Engineering Post Report
Nine Special Economic Zones (SEZs) are being established inPunjab, Sindh and Balochistan provinces under the umbrella of the great game changer China-Pakistan Economic Corridor (CPEC).
These SEZs are at various stages of their completion and becoming functional in due course of time and attract investments from Chinese and other prospective foreign investors for promoting industries, manufacturing and other sectors. Pakistan was offering a number of incentives and concessions to attract the foreign investors besides Chinese companies who are showing keen interest in coming to this country, exploring the investment opportunities and making the investment anywhere of their choice and liking.
One of the nine SEZs a flagbearer under the CPEC, Rashakai Special Economic Zone at Nowshera, Khyber Pakhtunkhwa has completed in terms of its first phase by the Khyber Pakhtunkhwa Economic zones Development Company and has also been formally inaugurated..
According to information available from concerned quarters, Rashakai SEZ comprises three phases covering an area of 247 acres, its first phase was scheduled to be completed and becoming functional in December 2023 but due to better team work and coordination with with China Road and Bridge Company it had been completed six months earlier than its specified period.
The Rashakai SEZ was the first project initiated under CPEC in Pakistan whose first phase has been completed and is being made functional now.
So far a huge investment of Rs 85 billion has been made in the SEZ and besides Chinese companies, big domestic industrial groups were also making investment.
the investors were setting up units for manufacturing Active Pharmaceutical Ingredients (APIs), a raw material for the pharmaceutical industrial units while another investor interested in establishing a vaccine manufacturing unit while Pakistan Oxygen, a largest oxygen manufacturing unit has also made substantial investment in the SEZ..