Construction Work On Rashakai Economic Zone To Start Soon

Construction work of Rakashai Economic Zone along with all other economic zones across the country is likely to be started soon as a major breakthrough is expected in this regard during the Prime Minister's visit to China next month, Project Director China Pakistan Economic Corridor (CPEC) Hassan Daud Butt has said.

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Oct, 2018 ) :Construction work of Rakashai Economic Zone along with all other economic zones across the country is likely to be started soon as a major breakthrough is expected in this regard during the Prime Minister's visit to China next month, Project Director China Pakistan Economic Corridor (CPEC) Hassan Daud Butt has said.

Talking to APP, he said the government had already issued directives to the concerned authorities to remove all the obstacles to ensure early launch of Rashakai Economic Zone.

He said the governments of both Pakistan and China had agreed that under second phase of CPEC, nine Special Economic Zones (SEZs) would be constructed in all the four provinces, Gilgit Baltistan, FATA, and Azad Jammu and Kashmir to boost industrialization across the country.

Butt said the land acquiring for Rashakai Economic Zone located in Khyber Pakhtunkhwa's district Nowshera was in progress and so far 2000 acres of land had been acquired for the project.

He said in the zone, the government would facilitate various local as well as foreign investors to establish their industries in different sectors including food packing, value addition of fresh fruits and vegetables, textile stitching and netting, and other industries.

He said construction of industries in these SEZs would not only help increase in economic activities in the country but it would also help in boosting country's export besides creating hundreds of thousands employment opportunities.

Giving details about the geographical location of Rashakai Economic Zone, the CPEC project director said the was 65 kilomteres away from airport and dry port, 25 kilometers from railway station, 15 kilometer from city center, and only five kilometer away from Motorway.

Replying to a question, Butt said the proposal of establishing special economic zone in Rashakai was given by the provincial government, and the Federal government had nothing do to with selection of location for the zone.

With respect to other projects under CPEC, Hassan Daud said China was making investment of over $56 billion in various projects under CPEC in Pakistan out of which $34 billion were being spent on energy projects, most of which were either completed or were in final stages.

Further, he said $24 billion worth of investment was being materialized in infrastructure and other sectors of the country.