Sunday, May 19, 2024

10 Economic Zones to be set up across KPK

Under the Industrial Policy 2020, the Khyber Pakhtunkhwa government aims to set up at least 10 economic zones throughout the province in the next decade. Last month, the provincial cabinet approved the policy.

According to the policy, Rashkai Special Economic Zone and Nowshera Economic Zone Extension are included in the proposed zones and will be developed in the areas of Jalozai, Nowshera, Chitral, Mohmand, Ghazi, Darband, Swat, Buner and Shakas. The creation of two special economic zones within the framework of a public-private partnership has also been planned over the next five years.

The document says that the strategy would stimulate the province’s construction, automotive, pharmaceutical, electronics, clothing, transshipment, IT and food and labour intensive industries.

The policy recommends that the province’s human capital, including artificial intelligence and those needed for the fourth industrial revolution, be equipped with modern and technological skills.

In order to make the local manufacturing sector successful, it also calls for exploiting the province’s natural resources such as hydropower, mines and minerals, oil and gas, food and beverage production, and cottage industry.

It also provides a snapshot of the current small and medium enterprises and cottage industries in the province and proposes the development in the next decade of 19 small industrial estates across the province.

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