The Rashakai Special Economic Zone (SEZ) one of the 9 SEZs under the China-Pakistan Economic Corridor (CPEC) framework, is likely to start commercial operation during the first quarter of this year. The SEZ located in district Nowshehra will generate 50,000 direct jobs and 100,000 indirect jobs for the locals. During the 8th Joint Coordination Committee (JCC) meeting held in Beijing last month, China’s National Development Reforms Commission (NDRC) and Pakistan’s Board of Investment (BOI) signed the Memorandum of Understanding (MOU) on industrial cooperation, which will facilitate the cooperation in this regard. China agreed to strengthen cooperation in industries like steel, cement, automobile, construction materials, home appliances, textile, light industry, and apparel, etc.
In early 2018, Pakistani Government had instructed BOI to formulate more accurately-targeted and more favorable policies on top of current preferential policies for two to three special economic zones that were to be listed as key projects under CPEC. Under the CPEC, so far nine special economic zones have been identified to be established in different areas of Pakistan. One each in Punjab, Khyber Pakhtunkhwa, Baluchistan and Islamabad, two in Sindh and one each in FATA, Kashmir, and Gilgit-Baltistan.
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