The Special Economic Zone (SEZ) in the Rashakai area of Khyber Pakhtunkhwa province has strategic significance because of its proximity to Afghanistan and Central Asian Republics (CARs).
Pakistan Board of Investment (BoI) Chairman Haroon Sharif said on Sunday the SEZ was a joint venture of the China Road and Bridge Corporation (CRBC) and the Khyber Pakhtunkhwa government.
The Associated Press of Pakistan quoted the BoI chairman as saying that a delegation of CRBC, led by Director Shi Xiaobo, recently visited the board to discuss the timelines for making the economic zone operational.
The CRBC team discussed incentive packages for the economic zone, including the provision of modern and hi-tech facilities to investors, he recalled.
Sharif said the Chinese called the zone a model project for other SEZs. “The BoI is strengthening its capacity by establishing specific desks and teams to deal investors from different countries.”
“We will need to acquire 5,000 acres of industrial land to complete all SEZs in the country in order to generate equal business opportunities for all,” he said.
The SEZ in Hattar was also a priority for BoI, he said, adding the power supply issue delayed the completion of the economic zones. The problem, however, was addressed in March.
