Voice of Khyber Pakhtunkhwa
Sunday, May 26, 2024

Rashakai Economic Zone to be a game changer for KP

The Rashakai Special Economic Zone (RSEZ), developed under the China-Pakistan Economic Corridor (CPEC), is located at M-1 motorway about 50-KM from Peshawar Airport. Due to potential economic hub, RSEZ is considered a game changer for KP economy. Necessary infrastructure will be completed with a cost of US $128 million with special incentives for investors.

Spreading on 1,000 acres of land, Rashakai SEZ would be developed in three phases of which 702 acres will be used for industrial site.

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. Likewise, 76 acres land has been allocated for commercial purpose,

While talking to this correspondent a senior official of the CPEC said the project was signed by the KP Government after long deliberations with China Road and Bridge Corporation (CRBC) to develop Rashakai SEZ during Prime Minister Imran Khan historic visit to China where he attended Second Belt and Road Forum and Beijing International Horticulture Exhibition (BIHE) 2019.

The official said that Pakistan was going to be one of the best markets for business and foreign investments in upcoming years.

Experts say that SEZ with advantageous locations in close proximity to Peshawar Airport gives confidence to potential investors about logistics related facilities. Apart from that, the SEZ will attract investors as KP is rich in fruit, leather, marble, gems, livestock, dairy, and wood which form majority of our export raw materials. Apart from that SEZ will offer opportunity to existing industry like carpets, arms manufacturing, pharmaceuticals, textile, and food processing to brand and market their products as per international standards. Exports to Afghanistan, China and Central Asia can boast from here.

The former president of the Federation of Pakistan Chambers of Commerce (FPCCI) Haji Ghulam Ali said that the SEZ on its completion will change the destiny of the country and especially KP.

He maintained that this project will inject new momentum into Pakistan’s economic development along with providing huge chances of jobs for the skilled people of Pakistan. Haji Ghulam Ali elaborated that millions of students in Pakistan were jobless who could get job opportunities and start businesses.

A total of 37 such economic zones across the country have been proposed as part of CPEC. Out of which nine SEZs including Rashakai was on the priority list.

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