ISLAMABAD, Mar. 11 (INP) While addressing a ‘Dialogue on Industrial Cooperation under CPEC and SEZs Framework, Board of Investment (BoI) Secretary Omar Rasul said that the Rashakai Special Economic Zone (SEZ) would tentatively be inaugurated by May or early June of this year.
“Since a successful contract between the Economic Zones Development and Management Company and the state-owned China Road and Bridge Corporation (CRBC) has been signed to develop the Rashakai Special Economic Zone (RSEZ), the work on the first SEZ under CPEC will start in a month,” the BoI secretary said, according to Gowadar Pro App.
He said that it was a top priority of the government to ensure all measures be taken to allow the availability of utilities and resources and infrastructure development of the economic zones. He added that they were committed to making sure that over 60 MW of power would be made available to the zone in one year.
Rashakai SEZ will cover an area of 778 acres in Nowshera district and is to be developed in 3 phases over a period of six years.
Advisor to the Prime Minister of Pakistan on Commerce, Abrul Razak Dawood said that the government was focusing on a strategy of export-led growth that has already delivered results.
He emphasized that increasing exports was critical to the economic development and the government was fully committed to making that possible through the development of economic zones.
The SEZs would not only spur economic growth, but also catalyze infrastructure development and industrial upgrading. In addition, considering the location of the SEZ, the supporting infrastructure would encourage development of the surrounding area and empower its population.