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October 23, 2020

KP finalises arrangements to launch six new economic zones

Peshawar

October 23, 2020

PESHAWAR: The Khyber Pakhtunkhwa government has finalized the preparations for the commercial launching of six new economic zones in the province.

These are Nowshera Economic Zone, Rashakai Special Economic Zone, Ghazi Economic Zone, Chitral Economic Zone, Mohmand Economic Zone and Dera Ismail Khan Economic Zone. The zones would be launched phase-vise from November this year to February next year. This was told at a meeting chaired by Chief Minister Mahmood Khan to review the progress made so far on the establishment of various economic zones in the province, said an official handout. Special Assistant to Chief Minister on Industries Abdul Kareem Khan, Secretary Industries Javed Marwat, Chief Executive Officer of Khyber Pakhtunkhwa Economic Zones Development and Management Company Javed Iqbal Khattak and officials from the Finance and Planning & Development Department attended the meeting.

The forum was informed that launching of 76 acres Nowshera Economic Zone extension project was expected at the end of the ongoing month. An investment of Rs 1.6 billion and roundabout 12,000 direct and indirect employment opportunities were expected through the project. Construction of an access road to the project site has been completed and 200 KVA transformers installed to provide electricity. It was informed that all the pre-requisites have been completed for the inauguration of 1000 acres Rashakai Special Economic Zone which was scheduled to be launched by the next month. The project would have space to accommodate 400 industrial units through which investment of $1.9 billion and 200,000 direct and indirect jobs were expected. Similarly, 89 acres Ghazi Economic Zone and 40 acres Chitral Economic Zone would be launched in December.

The commercial launching of 350 acres Mohmand Economic Zone was scheduled in January 2021. The zone would have space for 300 industrial units with an expected investment of Rs 7.6 billion and 56,000 direct and indirect employment opportunities.

A formal inauguration of 189 acres Dera Ismail Khan Economic Zone was expected in February 2021. Investment of Rs1.5 billion and over 30 thousand direct and indirect employments are expected through this project. Four industrial units are operational; two are under construction and construction of five additional ones would be very soon.

The meeting was told that 424 acres Hattar Special Economic Zone Extension Project was in progress under which six industries were already in production, 32 under construction and seven units would soon start production. An Export Processing Zone spread over 92 acres was also being established in Nowshera which was expected to fetch an investment of over 166 million US dollar and more than 30,000 employment opportunities. The forum was briefed about the economic zones to be established during the next financial year. These included 3125 acres Daraban Special Zone, 408 acres Bannu Economic Zone and 126 acres Buner Economic Zone.

Similarly, the establishment of Women Business Development Complex, Peshawar and Salt and Gypsum City in Karak are also in the pipeline. The chief minister said the future of this province was linked with industries and the provincial government was working under the integrated developmental strategy for the establishment of industries and promotion of economic activities.