Peshawar: The Khyber Pakhtunkhwa Economic Zones Development & Management Company (KP-EZDMC) has released a detailed report of all the special economic zones developed during 2022, news sources reported on December 5.
According to the authority, the government has developed nine (9) new economic zones in conjunction with a Chinese partner during the previous three years to encourage industrialisation and attract local and foreign investment in the industry. This also contains high-value economic zones with a specific emphasis on industrial growth and tax advantages for business owners. In addition to the existing SEZs, the government is reported to be contemplating the establishment of seven more SEZs in the province.
According to the study, all SEZs are operated by a special company established under Section 42 of the Companies Ordinance, 1984, and are entirely owned by the government of Khyber Pakhtunkhwa. In addition to supervising the development work, the consortium oversees the industries that move into these SEZs to maximise benefits and create jobs.
It is worth noting that an SEZ company was formed in response to an agreement with the Chinese government to begin the second phase of the China-Pakistan-Economic-Corridor (CPEC) project, which is a USD 64 billion initiative aimed at developing a varied economic base for Pakistan.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
