PESHAWAR: Chief Minister Mahmood Khan has said that the provincial government during last four years established nine new economic zones and revived 167 sick industrial units.
As per a statement issued from the Chief Minister’s Secretariat here on Sunday, the chief minister said that the new economic zones include Jalozai Economic Zone, Nowshehra Economic Zone (extension), D.I Khan Economic Zone, Rashakia Special Economic Zone, Chitral Economic Zone, Hattar Special Economic Zone, Bannu Economic Zone, Ghazi Economic Zone and Mohmand Economic Zone. Additionally, Daraband Special Economic Zone, Salt and Gypsum City Karak, Buner Economic Zone, Katlang Economic Zone and Mansehra Economic Zone will also be launched soon.
An investment of around Rs. 338 billion has been made in the above-mentioned economic zones wherein 167 sick industrial units have been revived and 366 new industrial units established.
He termed industrial development of vital importance for economic stability and said that the incumbent provincial government is paying special attention to the industrial sector with the aim of creating employment and livelihood opportunities. He added that the provincial government will provide conducive environment for industrialists and attract investment.
\He made it clear that economic growth will only be possible by increasing exports through industrialization, which needs sincere leadership that is devoted towards serving common citizens.
The Khyber Pakhtunkhwa Government is working under a comprehensive and well devised strategy to develop the industrial sector on modern lines, adding that multi-dimensional development activities are in full swing across the province to stabilize the provincial economy as well as to provide employment opportunities for the youth.
Mahmood Khan stated that the provincial government is working on establishing a number of new economic zones in addition to reviving sick industries in the province. Introduction of the industrial policy 2020, Khyber Pakhtunkhwa Commerce & Trade Strategy 2020 and investment promotion strategy are amongst the important policy initiatives of his government aimed at promoting the industrial sector as per contemporary needs.
It is pertinent to mention here that 71 development schemes have been reflected in the current Provincial Annual Development Program to ensure development of the industrial sector on a sustainable basis.
In order to promote small and medium entrepreneurs in the province, Saaf Finance Scheme worth Rs. 12 billion has been launched. To promote international investment in the province, 44 MoUs worth $8.0 billion have been signed at Dubai Expo 2020.
The Chief Minister said that the provincial government is also taking steps to promote self-employment in the province, adding that loans of Rs one billion have been provided to youth under the first phase of the Insaf Rozgar Scheme for launching small and medium scale businesses while the second phase of Rozgar scheme has also been launched.
Copyright Business Recorder, 2023
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