ISLAMABAD: Prime Minister Shehbaz Sharif on Monday laid the foundation stone of the Islamabad Model Special Economic Zone, which falls under the China-Pakistan Economic Corridor (CPEC) and is the first facility of its kind in the federal capital.
Spanning over 1,000 acres of prime industrial land at the junction of N-5 and Islamabad Expressway, the zone is expected to attract investments worth $2.5 billion and create 1,000 new employment opportunities.
Additionally, it aims to promote low carbon footprint industries in the country.
Addressing the ceremony, Prime Minister Shahbaz Sharif acknowledged the daunting challenges facing the nation. However, he expressed confidence in overcoming these challenges by working together.
He emphasised the importance of establishing a charter of economy to ensure policy continuity and a stable economy.
The premier lamented the delays in CPEC projects during the past four years of the PTI’s tenure.
Prior to the ceremony, Minister for Planning and Development Ahsan Iqbal highlighted the significance of Special Economic Zones (SEZs) as powerhouses for increasing exports, with the goal of reaching $100 billion in the coming years.
He also mentioned ongoing discussions with China to exchange expertise and ensure the successful operation of these SEZs.
