(MENAFN- Tribal News Network) PESHAWAR: Khyber Pakhtunkhwa Chief Minister Mehmood Khan on Wednesday formally performed the groundbreaking of Jalozai Economic Zone which is expected to create around 50,000 jobs.
According to an official statement, the 257-acre Jalozai Economic Zone, which is part of the China-Pakistan Economic Corridor (CPEC), will attract private sector investment of Rs8 billion.
Being in the proximity of the provincial capital (Peshawar) and adjacent to the engineering university campus and new housing scheme, the economic zone offers promising potential to the private investors and entrepreneurs who either intend to expand their existing businesses or to come up with new start-ups.
Jalozai Economic Zone is connected to Islamabad through M-1 Motorway, Torkham and Azakhel Dry Port which adds to its strategic strength. Industrial products from the Jalozi Economic Zone could find themselves in high demand areas like Afghanistan, Central Asia, China and urban centres in the region.
Chief Minister Mehmood Khan said while addressing the groundbreaking ceremony that the Jalozai Economic Zone will boost economic and industrial activities in KP and new jobs will be created.
The chief minister said the KP government is taking measures to promote economic activities to provide maximum opportunities to the people badly affected due to the prevailing coronavirus situation.
'We will soon announce the inauguration of other economic zones as well, including those planned in Chitral, Dera Ismail Khan, Hattar etc,' said the chief minister, adding that work on the groundbreaking of Rashakai Economic Zone was in the final stages. He said Prime Minister Imran Khan will perform the groundbreaking of the flagship project.
The chief minister said the government is committed to promote housing and construction sectors and maximum facilities will be provided to investors. He said the provincial government has amended rules to make the procedure of investment easier. He said locally produced electricity will be provided to the industrial units on cheaper rates through the newly introduced wheeling system to attract more investment.
The chief minister said industries like pharmaceutical, food processing, construction, marble, granite, food packaging and furniture will benefit from investment in the new economic zone.
The chief minister said every scheme of the provincial government is transparent. He said if anyone has any objection about transparency, they he many approach any forum of his choice for investigation in this regard.
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