KP government to establish 10 new economic zones, 19 industrial units under new Industrial Policy

PESHAWAR: The Khyber Pakhtunkhwa government would establish 10 economic zones and 19 small industrial estates during the next 10 years whereas at least two more special economic zones will be set up in the next five years under the new industrial policy.

According to an official handout issued here o Tuesday, the small industrial estates in Abbottabad, Dera Ismail Khan, Bannu, Dara Adamkhel, Khyber and Mardan would be declared special economic zones.

The decision was made in a meeting held here with Chief Minister Mahmood Khan in the chair. The meeting formally approved an action plan for implementation of Industrial Policy, 2020.

The meeting also approved formation of a 15-member implementation and oversight committee. Special assistant to chief minister on industries will head the committee to monitor and supervise enforcement process of the new industrial policy.

The meeting was informed that under the new policy concrete steps would be taken for the revival of sick industries in the province whereas provision of uninterrupted utilities to industrial units would also be ensured.

In order to utilise indigenous resources in industrial sector, 10 new economic zones would be set up in the various areas of the province including Chitral, Ghazi, Daraban, Swat and Buner.

It is pertinent to mention here that a number of economic zones including Rashakai Special Economic Zone, Jalozai Economic Zone, Nowshera Economic Zone (extension), Mohmand Economic Zone (Marble City) and Dera Ismail Khan Economic Zone have already been inaugurated.

Sector-specific economic zones will also be set up in various districts of the province. Construction of approach roads to industrial units, efficient waste management and development of other allied infrastructure are also part of the new industrial policy.

In order to support and encourage existing and new entrepreneurs in the province, credit incentives will be extended to them. A state-of-the-art training centre will also be established in Dara Adamkhel to promote cottage industry in the province.

Addressing the participants of the meeting, the chief minister said that government was taking pragmatic steps to create employment opportunities for people by promoting industrial and investment activities in the province.

He said that electricity produced at local level through hydel power projects was being provided to industries at concessional rates. He added that investors were being provided with all the facilities through one window service.

The chief minister directed all the departments concerned that to timely issue ‘no objection certificate’ required for setting up new industries to avoid unnecessary delay in the establishment of new industrial units under the policy.