Rashakai SEZ under CPEC to boost industrialization in Pakistan

ISLAMABAD: Chairman CPEC Authority retired Lt Gen Asim Saleem Bajwa said on Monday that the Rashakai Special Economic Zone (SEZ) project will speed up the industrialisation in Pakistan.

An agreement signing ceremony for the development of the Rashakai SEZ will be held at the Prime Minister Office today [Monday].

Taking to Twitter, Asim Bajwa said that China Road and Bridge Construction Company is the development partner with the Khyber Pakhtunkhwa government for this particular project.

Federal ministers, representatives from various ministries, Khyber Pakhtunkhwa officials, and different stakeholders are set to be part of the event.

The SEZ will pave the way for the establishment of new zones, Board of Investment (BoI) Chairperson Atif R Bokhari had said.

Such “economic zones will lead to a prosperous and industrial Pakistan”, Bokhari added, noting that quite a lot of progress has been made in the zones established under the CPEC.

Zones are now being prepared for business, the BoI official had added.

The geographical proximity between Pakistan and China will help in populating economic zones, as well as contribute to mutual economic gains.

At least Rs3 billion have been allocated to provide 210 MW of electricity and 30 million cubic feet per day (mmcfd) gas to the economic zone.

“The timely construction and development of the zone will be possible with the provision of all the basic facilities required,” Bokhari had said, adding that the zone, constructed via an investment worth Rs128 million, covering an area of 1,000 acres.

It was designated as a special economic zone in August 2019, Bokhari added.