Khyber Pakhtunkhwa is all set to launch its flagship prioritized Rashakai Special Economic Zone (SEZ) under CPEC.
The Development Agreement of Rashakai pSEZ was recommended by the board of Khyber Pakhtunkhwa SEZ Authority (SEZA) to the Federal Board of Investment (BOI), in its meeting held on Wednesday, said in a press release issued here. In the first phase, a land of 1000 acres in Rashakai was chosen by the Provincial Government to be considered as a prioritized SEZ in Central Khyber Pakhtunkhwa.
Rashakai pSEZ is among the three prioritized SEZs that are being focused on in the second phase of CPEC, the other two being Dhabeji (Sindh) and M3 (Punjab).
Rashakai has already been given the SEZ status by the Federal BOI through a notification issued on 19th September 2019. The PC-1’s for provision of electricity and gas have already been approved by Power and Petroleum Division’s respectively. KPEZDMC has commenced work on the construction of access road to the doorstep of the zone, well ahead of its committed schedule.
The development and subsequently the colonization of Rashakai pSEZ is expected to yield multiple economic benefits including 50,000 direct and 150,000 indirect job creation and opportunities for trade and export to central Asian markets through the expected Torkham corridor.