PM orders compliance of timelines for SEZ

PM Shehbaz invites Chinese companies investment, extends 'all-out support'

ISLAMABAD:

Prime Minister Shehbaz Sharif directed the authorities concerned on Wednesday to ensure strict compliance of the timelines for the projects being executed in the Special Economic Zone of Rashakai.

Chairing a review meeting on Rashakai SEZ, the prime minister called for addressing the shortcomings, including the coordination among the provinces on the SEZ. He also instructed for extending all-out support to the Chinese company to accelerate work on the SEZ.

The prime minister said that industrial development and revenue increase required collective efforts. Inviting the Chinese companies to invest in Pakistan, he stressed the companies from both the countries could benefit from each other’s expertise.

The meeting was informed that Rashakai SEZ was being developed under the public-private partnership mode and with the collaboration between Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDEMC) and CRBC of China, through Rashakai Special Economic Zone Development and Operations Company.

In this company, KPEZDEMC had 9% shares, while CRBC has 91% shares with the latter being the responsible for its operations. Under this SEZ, the sectors, including light engineering, automotive, construction, food processing and exports had been targeted which would create job opportunities for the locals as well as the economic activities.

The meeting was informed that work on water, gas and civil works were nearing completion. The construction of two industrial units was underway in Rashakai SEZ, while work on more units would be launched soon.

The Sui Northern Gas Pipeline had ensured gas supply to the Zone while the National Transmission and Dispatch Company was installing a grid station for power transmission to the area.

The meeting was attended by federal ministers Ahsan Iqbal, Asad Muhammad, Sajid Turi, Advisor Amir Muqam and Chrage d’Affaires of the Chinese Embassy in Islamabad.