The 5th Rashakai Special Economic Zone (SEZ) Committee has awarded three companies with the status of “zone enterprises”, thus making them the recipients of industrial plots in the Rashakai SEZ, a major project of China-Pakistan Economic Corridor (CPEC).
According to Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), the three enterprises are expected to bring a collective investment of PKR 1.2 billion and generate over 500 jobs for the locals. KPEZDMC has termed the development as “another step” in pursuing the industrialization agenda of the Government of KP.
These three enterprises include G&S Medcure Pvt Ltd, which will cater to the diverse market of Pakistan in the health sector, providing health care products; Globe Park Metals (Pvt) Ltd, with a background as a trader in long steel, smartphones, ferrous and non-ferrous scrap in the UK, UAE, and Pakistan; Haris Mahmood (Pvt) Ltd to export food items, raw cotton, and other miscellaneous supplies.
As of now, the SEZ committee has approved 18 enterprises, leasing out 68 acres of land with an investment figure of PKR 79.2 billion.
The swift approval mechanism and quick implementation by the Federal and Provincial Governments make Rashakai SEZ, the premier CPEC industrial project in Pakistan, a fast-emerging zone in industrial development.
The Government of KP and KPEZDMC and the China Road and Bridge Corporation (CRBC) are developing the Rashakai SEZ, which is spread over an area of approximately 1,000 acres of land. Upon its completion, RSEZ is expected to provide 200,000 direct and indirect employment opportunities to the locals.
