| Performs commercial launch of Rashakai Special Economic Zone | Says 4pc growth has surprised everyone | Future of Pakistan lies in industrialisation | Prudent economic policies have started yielding positive results | LSM showing growth

NOWSHERA   -  Prime Minister Imran Khan on Friday performed the commercial launch of multifaceted Rashakai Special Economic Zone (RSEZ) being constructed on 1,000-acres land on a strategic location of Peshawar-Islamabad Motorway.

Addressing the ceremony, Prime Minister Imran Khan said that his government is taking all out steps to incentivise investors for promotion of industrialisation and exports in the country.

The Prime Minister said hurdles are being removed to facilitate the local and foreign investors to invest in Pakistan. He emphasised on establishing export-based industry in the country for wealth creation. He said the future of Pakistan lies in industrialization.

Imran Khan said Rashakai Special Economic Zone is being established under CPEC. He said Pakistan has a great potential and it can learn a lot from the fast industrial growth of China. He directed the KP Government to give land at the zone on lease instead of selling it to avoid real estate speculations. He also advised for ensuring one window operation to facilitate the investors.

The Prime Minister the government’s prudent economic policies have started yielding positive results, and the four percent growth has surprised everyone. He said large scale manufacturing is showing growth.

He said the PTI government had to pass through a difficult time for one and a half years; however now the difficult time is over. He said the government is taking steps to ensure the economic stability sustainable.

He said the government’s successful policy to deal with Covid-19 has helped save lives as well as livelihood.

‘Industrial development’

Earlier addressing the ceremony, Chinese Ambassador Nong Rong congratulated the Prime Minister, the government and the people of Pakistan on commercial launch of Rashakai Special Economic Zone.

He said the project will give impetus to industrial development in Pakistan. He said it also help enhance economic cooperation between Pakistan and China.

The Ambassador said the Rashakai Special Economic Zone will not only accelerate economic progress but also create jobs for the youth in Pakistan. Rashakai prioritized Special Economic Zone is part of China-Pakistan Economic Corridor cluster.

It is a flagship project of KP Government and KP Economic Zone Development and Management Company.

Rashakai Special Economic Zone spreads over about one thousand acres of land, which is linked with CPEC route on M-I Motorway and other districts of the province that makes the project strategically significant.

The construction of the zone is being carried out with the collaboration of China’s state enterprise China Road and Bridge Corporation and KP Economic Zone Development and Management Company.

Different industries, including pharmaceutical, textile, food and beverages and steel and engineering will be established at Rashakai Special Economic Zone.

The project will provide employment opportunities to about two hundred thousand people of the area directly and indirectly.

Earlier upon his arrival, the prime minister was received by KP Governor Shah Farman, Chief Minister Mehmood Khan, Defence Minister Pervez Khattak, Provincial Minister for Industries Karim Khan, and other ministers. Chinese Ambassador to Pakistan Nong Rong and other senior officials also attended the event.

The RSEZ, a flagship project of KP Economic Zone Development and Management Company (KPEZDMC) of the KP Government under CPEC, would be a hub of foreign investment, promoting industrialization and generating thousands of direct jobs for the youth.

RSEZ, a three-year project would be developed in three phases. Total area designated for the industrial use is 702 acres and as per Federal SEZ Areas Regulations,159 acres would be developed in Phase I, 279 acres in Phase II and 264 acres in Phase III, besides 76 acres of land allocated for the commercial use.

In the first phase, industries related to textile, garments, home building materials, general merchandise, electronics, mines and minerals, electrical appliances, automobile, mechanical equipment and food processing plants would be set up at RSEZ and at later stages more industries would be included to gain maximum capital.

RSEZ holds a unique competitive advantage due to its close proximity to the first juncture of CPEC (China Pakistan Economic Corridor) route, close location with Peshawar Airport and ML-I, besides a significant resource and manufacturing base, making it an attractive destination for domestic and international investors to capture local and international markets.