AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

The Board of Approvals (BOA) approved the Development Agreement (DA) of Rashakai pSEZ, previously endorsed by the KP Special Economic Zones Authority.

The BOA meeting was chaired by Prime Minister Imran Khan, according to a press release issued here on Thursday.

Rashakai pSEZ, the first prioritized SEZ of Pakistan, is among the three prioritized SEZs that are being focused on in the second phase of CPEC, the other two being Dhabeji (Sindh) and M3 (Punjab).

Rashakai pSEZ is strategically situated in the proximity of Islamabad and Azakhel Dry Port Nowshera on the M1 motorway which links it to the CPEC route and Swat Expressway, offering a location advantage to the Special Economic Zone. The 1,000-acre pSEZ will be developed by China Road and Bridge Corporation (CRBC) in a joint venture with the Khyber Pakhtunkhwa Economic Zones Development and Management Company.

The development and subsequently the colonization of Rashakai pSEZ is expected to yield multiple economic benefits, including 50,000 direct and 150,000 indirect job creation and opportunities for trade and export to the Central Asian markets through the expected Torkham corridor.

CRBC will market the zone, and the anticipated investment from setting up of enterprises and foreign direct investment is approximately US$1.630 billion and US$494 million respectively from local and foreign investors.

The PC-1 for the provision of electricity and gas has already been approved by the power and petroleum divisions respectively.

Acting CEO of KPEZDMC, Adil Salahuddin, said that due to relentless efforts of KPEZDMC management and BoD, the first prioritized SEZ under CPEC (RSEZ) in Pakistan was approved. He acknowledged the earnest efforts and active support of the BoD in getting the Rashakai pSEZ approved from the BoA.

Copyright Business Recorder, 2020

Comments

Comments are closed.