New economic zones under CPEC in KPK to pave way for industrial growth

PESHAWAR, (APP – UrduPoint / Pakistan Point News – 9th Oct, 2020 ) :Khyber Pakhtunkhwa government on Friday successfully restored trust of the investors and managed to set up of 617 industrial units across the province since 2014.

The Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) recorded an overwhelming response in its Economic Zones as investors showed keen interest in establishing industrial units across KP.

Gadoon Amazai, once considered a graveyard for industries, was restored with the establishment of new industrial units by addition of several mega projects by national and international business groups.

The government’s incentive of one-window facility for the investors under the “Ease of Doing Business Cell” encouraged several local and foreign industrialists to invest in the province, an official of KPEZDMC told APP.

Moreover, the Government had exempted 120 small trade businesses from trade license fees and inspection of Town Municipal Administration (TMA) coupled with reduction of sales tax from 15 percent to 2 percent on services for 27 categories and tax exemption to 19 other categories upon registration with KPPRA bore positive result in industrial sector.

The official said that recent establishment of new economic zones under CPEC project including, Jalozai, Nowshera (Extension), Mohmand, Rashakai Special Economic Zone and DI Khan Economic Zone would attract foreign direct investment, adding it pave the way for not only industrial growth but also for providing vast opportunities for employment in the province.

The Company also appreciated the Provincial Government and board of Director’s support for their backing and guidance towards fast track industrialization in Khyber Pakhtunkhwa.