Attracts investment Of Rs340b
Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC) has launched nine (9) new Economic Zones (EZs) during the period of last three years to promote industrialization and attract domestic and foreign investment in the sector. The newly launched Economic Zones include Rashakai Prioritized Special Economic Zone, Hattar Special EZ and 7 EZs while five new upcoming projects also include one proposed Special Economic Zone at Draban, D.I. Khan. The remaining four others are Buner Marble City, Salt and Gypsum City Karak, Mansehra Economic Zone and Katlang Economic Zone. The KP-EZDMC has been established as non-profit organization, within the meaning of section 42 of the Companies Ordinance, 1984 and is wholly owned by the government of Khyber Pakhtunkhwa. The Company aims to develop and manage world class industrial estates in the Khyber Pakhtunkhwa to help organizing and establishing planned and rapid industrialization in Khyber Pakhtunkhwa. Rehabilitation of the existing industrial estates is also part of the objectives of this Company. According to an official of the Company, the Company has so far extended incentives to the tone of Rs.14.3 billion to the enterprises in Hattar and Rashakai SEZs in the shape of relief in taxes.
The investors-friendly initiatives of the Company have helped increase the number of operational enterprises in the province to 1166 units while 163 sick and closed industrial units have also been revived. The total employment in the operational units surged to 100,500 with around 10 percent female participation. 297 units are under construction in the new zones. The completion of the under new EZs will generate 48,375 direct employment. These initiatives have attracted huge industrial investment of Rs.340 billion in existing and newly launched EZs and resulted in making the company self-sustainable. The Company has spent Rs.7.260 billion on infrastructural works in different zones executed from the company’s own resources.