Pakistan’s Minister for Planning and Development Asad Umar has said the government is targeting the groundbreaking of first Special Economic Zone (SEZ) under China-Pakistan Economic Corridor (CPEC) by the end of this month.

In a tweet, he expressed the determination to open two more Special Economic Zones within current fiscal year.

He said under the first phase, one each SEZs is being established in Sindh, Khyber Pakhtunkhwa (KP) and Punjab. Asad Umar noted that the government is focusing on the development of SEZs under the CPEC to accelerate industrialisation and job creation.

Asad Umar held separate meetings with key economic ministries to improve the pace of work between project conception and implementation while directing officials to expedite work on groundbreaking of special economic zones (SEZs), one of them before December 31.

He said this while reviewing progress on the CPEC and the Public Sector Development Programme (PSDP) funded projects. Work to start with Faisalabad, followed by Rashakai and Dhabeji

The idea was that instead of looking at just Chinese investment, plans should be prepared to involve investors from wherever possible to the SEZs including creation of business opportunities for the locals also through business-to-business collaboration to generate maximum jobs, the official added.

The minister appreciated the progress on development of three SEZs and observed that sufficient progress had been achieved on the Faisalabad zone, known as Allama Iqbal Industrial City (M3). Therefore, the ground-breaking of the first zone under the CPEC at Faisalabad will be ensured before the end of the calendar year.

News Network International