PESHAWAR: The provincial government has decided to launch four new economic zones in the province.
This was disclosed during a meeting of the Khyber-Pakhtunkhwa Economic Zones Development Management and Development Company (K-PEZMDC) Board of Directors (BoD) on Thursday.
The board approved the establishment of Ghazi Economic Zone over 89.9 acres, the Chitral Economic Zone covering 40 acres, the Jalozai Economic Zone covering 257.5 acres and the Nowshera Economic Zone Extension covering 76.25 acres of land.
The board said that the K-PEZDMC has acquired possession of land for the proposed economic zones and will soon finalise formalities to initiate work on these new zones.
The establishment of these zones will not only create industrial growth and job creation for locals but also spur economic activity, which has slowed down due to the novel coronavirus (Covid-19) pandemic.
The economic zones will bring billions of rupees in investment and create job opportunities for over 25,000 people. The zones will have electricity and a well-developed infrastructure which will facilitate investors in setting up their industries close to the base or near raw materials.
K-PEZDMC CEO Javed Khattak stated that it was a crucial step for the province as they needed to attract investment and boost economic activity in the region. With these new economic zones, the econoamy of the region will flourish and jobs would be created.
Published in The Express Tribune, June 12th, 2020.
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