Bureau Report
PESHAWAR: Despite substantial population growth, the Asian continent has achieved remarkable successes after shifting the engine of economic and industrial growth from Global North to Global South during the last few decades.
The positive transformation has also been witnessed in South Asia including Pakistan where communication infrastructure, economy, trade, forest, agriculture, education, health, transport, media and industrial sectors have improved significantly. It was primarily due its prime geographical location, different climates, rich mines and mineral wealth, deep seaports and massive human resources.
Resultantly, the flow of direct foreign investment (DFI) were diverted to Pakistan as evident from billions dollars multifaceted China Pakistan Economic Corridor (CPEC), a major component of China’s One Belt, One Road (OBOR) Initiative, which has entered into industrialization phase after signing of the landmark Rashakai SEZ Development Agreement between Pakistan and China. Following official announcement of CPEC, around 37 zones were proposed as Special Economic Zones (SEZs) for all provinces of the country out of which establishment of nine SEZs were prioritized including Rashakai Nowshera, Dhabeji, Bostan Industrial Zone, Allama Iqbal Industrial City Faisalabad, ICT Model Industrial Zone Islamabad, Industrial Park Pakistan Steel Mills Port Qasim, Mirpur Industrial Zone AJK, Mohmand Marble City and Moqpondass in Gilgit-Baltistan. However, Rashakai SEZ is holding a unique competitive advantage due to its proximity to first juncture of CPEC route, close location with Peshawar airport and ML-I besides a significant resource and manufacturing base in the entire region. Conceptualized by the KPEZDMC, Rashakai SEZ is a flagship project of the KP Government that would be established on 1,000 acres land with collaboration of China on Peshawar-Islamabad Motorway (M1) in Nowshera district.
