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With four Special Economic Zones (SEZs) in Pakistan, it is expected to create a total of 1.47 million jobs and significantly boost the country’s local industry, leading to sustainable economic growth. Will grow
He said that four SEZs including Rashakai M One One Nowshera. Dhabeji Thatta “Allama Iqbal Industrial City Faisalabad and Bostan Balochistan will create approximately 475,000 direct and 1,000,000 indirect jobs across the country,” a Board of Investment (BOI) official said on Monday. Told APP, as reported by Global Village Space.
Talking to APP, the official said that these sectors, which are part of the China-Pakistan Economic Corridor (CPEC), would boost the overall industrial growth in the country, adding that the development of these four zones would help the government. The first priority.
He was of the view that Pak-China industrial cooperation would make Pakistan a manufacturing hub in the region while the establishment of industrial zones would create vast investment opportunities for local industrialists.
The 1,000-acre economic zone has already attracted more than 2,000 domestic and foreign investments in various sectors of the economy, thus accelerating rapid industrial development.
He said that this zone would be developed in three phases and according to the plan 247 acres of land would be prepared in the first phase, 355 acres in the second phase and 399 acres in the third phase.
Similarly, the federal government will provide 210 MW of electricity to the zone in three phases while it has set aside Rs 1,203 million for gas for the zone.
The zone will provide employment to 80% of the locals, he said, adding that Rashakai has the potential to become a hub of economic activity.
Meanwhile, Trade and Investment Adviser Abdul Razzaq Dawood stressed that Special Economic Zones (SEZs) are milestones for economic and industrial development in Pakistan.
According to the adviser, the special economic zone will pave the way for foreign investment, setting a milestone in the country’s industrial modernization and diversification.
The government is prioritizing the development of Special Economic Zones (SEZs) to attract foreign direct investment (FDI) and transfer technology to the country, he said.