ISLAMABAD: Federal Minister for Planning Asad Umar was informed on Thursday that provision of utilities such as electricity and gas for Special Economic Zone (SEZ) at Rashakai were underway and, so far, 2,000 investors had filed applications for establishing their industrial units in the 3,000 acre area.
It has also been highlighted that the Chinese firm responsible for developing the Rashakai SEZ has failed in achieving certain timelines, so they will have to expedite the work to accomplish the task within the desired deadline.
The federal minister for planning has sought details with the exact name of Chinese investors and area of specific interest for ensuring joint ventures in the SEZ at Rashakai. Pakistan and China are exploring possibilities for convening a much-awaited Joint Cooperation Committee (JCC) under the CPEC framework by the end of the ongoing month. However, both sides could not finalise the agenda of the meeting but efforts are underway to convene the upcoming JCC around March 26 to 30, 2021. In the aftermath of Covid-19 pandemic, both the countries could not convene the JCC meeting but now efforts are being made in this regard in order to finalize important projects. With regard to the SEZ at Rashakai, the minister was told that 10 megawatt electricity was available and transmission line was under construction. The availability of gas will also be ensured. The Federal Minister for Planning, Asad Umar, directed the authorities concerned to streamline provision of gas and electricity so that the SEZ at Rashakai could become fully operational.
“The Chinese as well as local investors are very much keen to invest at Rashakai but without the required spadework, the SEZ cannot become operational,” said the official sources and added that the Centre would have to ensure gas and electricity and other infrastructure at the site.
According to an official statement issued by the Ministry of Planning, Federal Minister for Planning, Development and Special Initiatives Asad Umar chaired a progress review meeting on the development and ground-breaking of Rashakai Prioritized Special Economic Zone under the CPEC Framework here in Islamabad on Thursday. Provincial Finance Minister KP Taimur Khan Jhagra and senior officials of the federal and provincial governments attended the meeting.
The meeting was briefed on the progress of work at the SEZ. It was informed that the camp office at the site had been established, while the first industrial unit had started its construction work within the Zone, which was getting a very encouraging response as more than 2,000 investors had indicated in setting up their units in the SEZ. All such applicants will be processed in a transparent manner to allocate appropriate space within the zone.
The minister appreciated the work carried out by the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) and the development to set up Rashakai as the first SEZ in PPP model. He said that the relevant federal agencies will be directed to provide all necessary support and assistance to make the SEZ a success.
