CM launches Bannu Economic Zone

PESHAWAR: Caretaker Chief Minister Justice (Retd) Syed Arshad Hussain Shah has formally launched the Bannu Economic Zone.

A ceremony to this effect was held here at the Chief Minister’s House on Tuesday.

Besides caretaker provincial minister for Industries Dr Aamir Abdullah, secretary Industries Syed Zulfiqar Ali Shah, CEO of Khyber Pakhtunkhwa Economic Zones Development and Management Company (EZDMC) Javed Khattak, Board members of EZDMC and other relevant officials attended the ceremony, said a handout. The chief minister, on the occasion, also distributed allotment letters among the interested in investing in the economic zone.

Earlier, briefing the chief minister about the important features of the newly established economic zone, it was informed that Bannu Economic Zone sprawled over an area of 415 acres. It would have a total of 265 small and large scale industrial units and is likely to attract a massive investment of Rs10 billion. It was further informed that the economic zone would also create about 16,000 direct and 48000 indirect employment opportunities. The chief minister was also briefed about the overall performance of EZDMC with special focus on the existing and upcoming economic zones in the province. “Currently, a total of 14 economic zones are operational across the province having an investment of Rs346 billion cumulatively,” the authorities said and added that work on establishing four another economic zones is also in progress. Speaking on the occasion, the chief minister extended his heartfelt felicitations to the management of Economic Zones Development and Management Company for successful launching of Bannu Economic Zone and said that newly launched economic zone would prove to be a milestone towards promoting sustainable economic development by paving the path of new industrial activities in the province.

He maintained that the strategic location of the zone was of vital importance. “It can emerge as a hub of economic activities not only for Khyber Pakhtunkhwa but other provinces and central Asia as well. It will also play a pivotal role in the fast track development of southern districts and other adjacent areas of the region,” he added.