Friday, September 24, 2021

To stimulate industries, the government of KP plans to establish ten new economic zones

During the next ten years, the government of Khyber Pakhtunkhwa plans to develop 10 new Economic Zones and 19 Small Industrial Estates in order to promote the province’s industrial sector on a long-term basis.

Under the new Industrial Policy 2020, two more Special Economic Zones will be established in the next five years, while tiny industrial estates in Abbottabad, D.I. Khan, Bannu, Dara Adam Khel, Shah Kas, and Mardan would be designated as Special Economic Zones.

According to an official handout issued here on Tuesday, this was expressed during a meeting held here the other day with Chief Minister Khyber Pakhtunkhwa Mahmood Khan in the chair. The forum formally approved an action plan for implementation of new Industrial Policy 2020, besides granting approval for constituting a 15-members implementation and oversight committee to be headed by the Special Assistant on Industries to monitor and supervise the overall implementation process of the said Industrial Policy.

The forum was briefed on several aspects and key characteristics of the Industrial Policy 2020, including the fact that under the policy, concrete actions would be taken to revive closed/sick industries in the province, as well as the provision of continuous utilities to industrial units.

Ten new economic zones will be established in various regions of the province, including Chitral, Ghazi, Daraban, Swat, Buner, and others, in order to exploit indigenous resources in the industrial sector.

A number of economic zones, including Rashakai Special Economic Zone, Jalozai Economic Zone, Nowshera Economic Zone (extension), Mohmand Economic Zone (Marble City), and D.I.Khan Economic Zone, have previously been established. Furthermore, sector-specific economic zones will be established in several districts around the province.

The new Industrial Policy included the construction of approach roads to industrial units, effective waste management, and the development of other related infrastructure.

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