PESHAWAR: Chief Executive Officer (CEO) Khyber Pakhtunkhwa Economic Zones Development & Management Company (KP-EZDMC), Javed Iqbal Khattak has said that with the setting up of 9 new economic zones in the province within a period of two years has turned the dream of industrialization into a reality.
In a statement issued here on Sunday, he said that five more economic zones including one Special Economic Zone (SEZ) i.e. Daraban SEZ, Buner Marble City, Salt & Gypsum City Karak, Mansehra EZ and Katlang EZ are in the pipeline.
These initiatives of the company, the CEO said will bring an industrial investment of Rs.338 billion in existing and newly launched economic zones in Khyber Pakhtunkhwa. These projects will help increase exports and bring decrease in imports and ultimately the economy of the province would be strengthened.
The company was established in 2015 with the aim of bringing improvement in the industrial infrastructure and promotion of industries in Khyber Pakhtunkhwa to generate employment opportunities.
Before the establishment of the company there were only three economic zones i.e. Gadoon, Hattar and Peshawar Economic Zones in the province and the number has no increased to 14, wherein 344 industrial units are under-construction and some have started commercial activity.
Out of them D.I. Khan Economic Zone has become operational and 9 industrial units have started production while 16 more are under-construction. Similarly, he said that 90% plots have already been allotted in Bannu Economic Zone and construction work on them has also been started.
Land for Jalozai Economic Zone was acquired during 2005, but no development was initiated and now besides the provision of electricity work on basic infrastructure has been completed and 45 industrial units are under construction while two units have started commercial production while the remaining will start operation by the end of December this year.
He said that the Export Processing Zone (EPZ) Nowshera has been restored and now products are being exported from it. He especially mentioned the installation of a big unit of the manufacturing of the parts of drilling machines that are being exported to Saudi Arabia.
He said that nine units of marble, ghee and aluminum have been installed in Mohmand Economic Zone and work is in progress. Similarly, he said that investment is also continued in Rashakai Special Economic Zone and industrial units are being set up there. He especially mentioned the establishment of an electric vehicles manufacturing unit by a Chinese company, which will be the first auto-mobile manufacturing unit in Khyber Pakhtunkhwa.
Steel, electric cable, food and oxygen manufacturing units are under construction in Rashakai Special Economic Zone. Similarly, he said that incentives offered in Hattar Special Economic Zone are also attracting investors and 8 units have already been established that have supplied gas electricity. A Saudi Arabian investor is also setting up a unit. He said that land in Ghazi was available since the 90s and now 80% work on the establishment of infrastructure has been completed while 95% development work on Chitral Economic Zone has been completed , saying so far 129 billion rupees have been invested in Khyber Pakhtunkhwa.
The CEO KP-EZDMC said that so far an investment to the tone of Rs.129 billion has been made in the province and from next year four more economic zones would be specified for the indigenous mineral sector. The zones include Buner Marble City, Salt & Gypsum City Karak. These industrial activities are going to generate over 4,00,000 employment.
The company, he said is also focusing on the revival of sick industrial units and so far 160 units have been revived only in Gadoon Economic Zone wherein big and strong industrial groups have made investment in pharma, steel, pipe and foam manufacturing units.