Friday September 24, 2021

New economic zones being established in KP, meeting told

August 05, 2021

PESHAWAR: A number of new economic zones were being established to put the industrial sector on the track to sustainable development and to accelerate industrial activities in the province, a meeting was told on Wednesday.

The meeting of the Economic Zones Development and Management Company was held here with Chief Minister Mahmood Khan in the chair, said a handout.

The meeting was given a detailed briefing about establishing industrial units in the existing economic zones, newly launched and upcoming economic zones in the province.

During the last fiscal year, it was informed, four new economic zones, including Rashakai Special Economic Zone, Jalozai Economic Zone, Nowshera Economic Zone (Extension) and Dera Ismail Khan Economic Zone, have been established.

Besides, 89 acres Ghazi Economic Zone and 40 acres Chitral Economic Zone are also ready and expected to be launched during the next two months.

Ghazi Economic Zone would generate around 17980 employment opportunities whereas Chitral Economic Zone is also expected to generate 8000 direct and indirect employment opportunities.

The forum was informed that an investment of over Rs31 billion has been mobilised in existing economic zones and 1290 industrial units have been set up so far.

The meeting was told that work on the revival of closed industrial units in the economic zones was also in progress, which would create new investment and employment opportunities as well.

Besides, establishment of Women Business Park has also been proposed to promote women entrepreneurship and to provide a business-friendly environment to women entrepreneurs in the province.

The chief minister termed industrial development as one of the priority areas of his government and said that industrialisation was very much important to create employment opportunities.