PESHAWAR: Chief Govt Officer (CEO) Khyber Pakhtunkhwa Financial Zones Growth & Administration Firm (KP-EZDMC), Javed Iqbal Khattak has mentioned that with the establishing of 9 new financial zones within the province inside a interval of two years has turned the dream of industrialization right into a actuality.

In a press release issued right here on Sunday, he mentioned that 5 extra financial zones together with one Particular Financial Zone (SEZ) i.e. Daraban SEZ, Buner Marble Metropolis, Salt & Gypsum Metropolis Karak, Mansehra EZ and Katlang EZ are within the pipeline.

These initiatives of the corporate, the CEO mentioned will deliver an industrial funding of Rs.338 billion in current and newly launched financial zones in Khyber Pakhtunkhwa. These tasks will assist improve exports and produce lower in imports and finally the economic system of the province could be strengthened.

The corporate was established in 2015 with the purpose of bringing enchancment within the industrial infrastructure and promotion of industries in Khyber Pakhtunkhwa to generate employment alternatives.

Earlier than the institution of the corporate there have been solely three financial zones i.e. Gadoon, Hattar and Peshawar Financial Zones within the province and the quantity has no elevated to 14, whereby 344 industrial models are under-construction and a few have began business exercise.

Out of them D.I. Khan Financial Zone has grow to be operational and 9 industrial models have began manufacturing whereas 16 extra are under-construction. Equally, he mentioned that 90% plots have already been allotted in Bannu Financial Zone and development work on them has additionally been began.

Land for Jalozai Financial Zone was acquired throughout 2005, however no improvement was initiated and now in addition to the availability of electrical energy work on primary infrastructure has been accomplished and 45 industrial models are beneath development whereas two models have began business manufacturing whereas the remaining will begin operation by the top of December this 12 months.

He mentioned that the Export Processing Zone (EPZ) Nowshera has been restored and now merchandise are being exported from it. He particularly talked about the set up of an enormous unit of the manufacturing of the elements of drilling machines which are being exported to Saudi Arabia.

He mentioned that 9 models of marble, ghee and aluminum have been put in in Mohmand Financial Zone and work is in progress. Equally, he mentioned that funding can be continued in Rashakai Particular Financial Zone and industrial models are being arrange there. He particularly talked about the institution of an electrical automobiles manufacturing unit by a Chinese language firm, which would be the first auto-mobile manufacturing unit in Khyber Pakhtunkhwa.

Metal, electrical cable, meals and oxygen manufacturing models are beneath development in Rashakai Particular Financial Zone. Equally, he mentioned that incentives provided in Hattar Particular Financial Zone are additionally attracting traders and eight models have already been established which have provided gasoline electrical energy. A Saudi Arabian investor can be establishing a unit. He mentioned that land in Ghazi was accessible because the 90s and now 80% work on the institution of infrastructure has been accomplished whereas 95% improvement work on Chitral Financial Zone has been accomplished , saying thus far 129 billion rupees have been invested in Khyber Pakhtunkhwa.

The CEO KP-EZDMC mentioned that thus far an  funding to the tone of Rs.129 billion has been made within the province and from subsequent 12 months 4 extra financial zones could be specified for the indigenous mineral sector. The zones embody Buner Marble Metropolis, Salt & Gypsum Metropolis Karak. These industrial actions are going to generate over 4,00,000 employment.

The corporate, he mentioned can be specializing in the revival of sick industrial models and thus far 160 models have been revived solely in Gadoon Financial Zone whereby huge and robust industrial teams have made funding in pharma, metal, pipe and foam manufacturing models.