Premier Imran Khan performed the groundbreaking ceremony of the commercial launch of the Rashakai Special Economic Zone, which is being developed under the China-Pakistan Economic Corridor.
Addressing the ceremony, the premier remarked that the PTI-led government is taking all-out steps to incentivize investors for the promotion of industrialization and exports in the country.
He said that the hurdle in bringing international investors to Pakistan, the complicated system, is being removed to facilitate foreign and local investors.
The Prime Minister further added that the future of Pakistan lies in industrialization and emphasized establishing export-based industries for wealth creation. He said that Pakistan never paid attention to expand exports.
The premier directed to ensure one window operation to facilitate the investors.
He stated that the Rashakai Special Economic Zone is being established under CPEC, and Pakistan has great potential, and it can learn a lot from the fast industrial growth of China.
“Pakistan should learn from the Special Economic Zones (SEZs) set up by China,” said the Prime minister. He added the Rashkai Special Economic Zone is a huge platform and opportunity for bringing investment to Pakistan.
Imran Khan expressed his regret on the alienated Pakistani investors who left the country and set up their businesses in other counties like Bangladesh, Malaysia, and UAE.
On the occasion, he also directed the KP Government to provide land in the zone on lease instead of selling it; to avoid real estate speculations.
The premier maintained that the government’s prudent economic policies have started yielding positive results, and the four percent growth has surprised everyone. He further informed that large-scale manufacturing is showing growth.
PTI government had to pass through a difficult time for one and a half years. However, now the difficult time is over, he added. Prime Minister assured that the government is taking steps to ensure the economic stability sustainable.
He appreciated the government’s successful policy to deal with COVID-19, which has helped save lives and livelihood.
Later, the Finance Minister, Shaukat Tarin, in a Tweet, said, “Establishment of SEZ’s and populating them is the most important part of the CPEC journey.” He thanked the Prime Minister for inaugurating the Rashakai free zone.
The Finance Minister said that CPEC would considerably benefit the progress of the country.
About the Project:
This is the first 366 million dollar investment by the Chinese construction enterprise, Century Steel Pvt. Ltd, which shows the commitment of Pakistan and China for the timely completion of CPEC projects.
The Rashakai Prioritized Special Economic Zone is a flagship project of the Khyber Pakhtunkhwa Government and the Khyber Pakhtunkhwa Economic Zone Development and Management Company (KPEZDMC), under the China-Pakistan Economic Corridor Framework.
The Rashakai SEZ covers about one thousand acres, which is connected to the M-1 Motorway and gives access to the China-Pakistan Economic Corridor Route and is also connected to different districts of the province. This connection increases the strategic importance of the project.
The Rashakai Special Economic Zone is being completed in partnership with the Chinese State-owned enterprise, China Road & Bridge Corporation (CRBC), and Khyber Pakhtunkhwa Economic Zone Development and Management Company (KPEZDMC).
This zone will cover various industries related to pharmaceuticals, textiles, food and beverages, steel, and engineering. More than 2,000 online applications have been received for the lease of 700 acres so far.
The project will provide about 200,000 direct or indirect employment to the locals living in the region.
