EZ to lure in Afghan investment

Work on Pak-Afghan economic zone underway in Peshawar

PESHAWAR:

Establishment of Pak-Afghan Economic Zone near the border of the two countries in the periphery of Peshawar district has been in progress and Section-IV has been enforced for land acquisition.

This was disclosed by CEO Khyber-Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), Javed Khattak, while talking to APP here Thursday.

The EZDMC is establishing economic zone with the objective of tapping the potential of trade and commerce and facilitate businessmen of both the neighbouring countries, he added.

The zone will be established over 508 acres land within the vicinity of Hayatabad Industrial Estate under the foothills of Shalman mountains.

In the new economic zone, Afghan businessmen would be given the opportunity of doing business through partnership with Pakistani businessmen, Javed explained.

He said a separate economic zone is expected to give impetus to Pak-Afghan business by strengthening supply chain of both the raw material and finished goods between the two countries.

Special cold storages will also be set up to preserve perishable goods in case of closure of the Torkham border crossing, he added.

Khattak said that NESPAK was working over feasibility of the economic zone and the work on infrastructure development would soon start after acquisition of the land.

For the economic zone, the new expressway will be utilized for transportation of goods from main GT Road and motorway industrial estate to avoid entry of cargo-laden trucks within the premises of city area of Peshawar district, he continued.

He said KPEZDMC is striving with the mission of economic prosperity through industrialization and within three years has succeeded in launching nine new economic zones in the province besides two special economic zones including Rashakai and Hattar.

Around 298 new industrial units were established in the province during the last three years in these newly established economic zones and SEZs, he added.

Through facilitation services provided by KPEZDMC, the number of operational enterprises increased to 1,166 units, raising the employment figures to 100,530 with around 10 per cent female participation.

Meanwhile, Director Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), Ziaul Haq Sarhadi has welcomed the establishment of joint economic zone in K-P.

Sarhadi said that the new economic zone would attract Afghan investment in the province and help in promotion of industrialization, creating job opportunities for thousands of youth on both sides of the border.

Published in The Express Tribune, January 14^th, 2023.