Provincial government to create 10 economic zones across KPK

The zones will be set up in the areas of Jalozai, Nowshera, Chitral, Mohmand, Ghazi, Darband, Swat, Buner, and Shakas.

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Rashakai Economic Zone (Full CPEC Report Updated)The Khyber Pakhtunkhwa (KPK) government has planned to establish at least ten economic zones across the province in the next decade.

The KPK government plans to implement this under the Industrial Policy (2020) after the provincial cabinet approved the policy in this regard last month.

Rashkai Special Economic Zone (REZ)

 

According to local media outlets that reviewed the policy, the proposed zones include Rashkai Special Economic Zone (REZ) and Nowshera Economic Zone (Extension).

The zones will be set up in the areas of Jalozai, Nowshera, Chitral, Mohmand, Ghazi, Darband, Swat, Buner, and Shakas.

Meanwhile, establishing two more special economic zones (SEZs) under the public-private partnership (PPP) has also been planned in the next five years.

Similarly, the document further proposes 19 small industrial estates across the province in the next decade.

The policy will promote the construction, automobile, pharmaceutical, electronics, apparel, transshipment, IT and food and labor-intensive industries in the province.

Interestingly, the policy sets the rules for people willing to work in the sector. The people should be equipped with modern and technical skills, including artificial intelligence, and those required for the fourth industrial revolution.

The policy also calls for leveraging the province’s natural resources like hydel, mines and minerals, oil and gas, food and beverage processing, and cottage industry to make the local industrial sector competitive.

The policy also proposes incentives in the merged tribal districts, especially in raw material and human resources.

The State Bank of Pakistan (SBP) will be requested to direct public and private sector commercial banks to extend Shariah-compliant commercial lending to these districts.

Furthermore, land in the specific merged areas earmarked for industrial zones will be provided at a 15% discounted price, while electricity will be supplied via independent feeders.

Also, easy access to local markets will be ensured regarding the goods processed and manufactured in the merged tribal districts.

The policy also reveals that the exemption of KP sales tax on services will continue in tribal districts until June 30, 2023.

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