Minister inaugurates new enterprises in Mohmand Economic Zone

PESHAWAR: The caretaker Minister for Industries, Commerce and Technical Affairs, Tribal Affairs Syed Aamer Abdullah visited Mohmand Economic Zone, an initiative of the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC).

This visit marked a significant milestone in the region’s economic development, particularly newly merged districts (NMDs) with the minister inaugurating HMB Oil and Ghee Mills Pvt Ltd, Alam Ghee and Oil Mills Pvt Ltd and ground-breaking Inspire Flour & General Mills.

During the visit, the minister was accompanied by Javed Khattak, CEO of KPEZDMC along with the senior management team.

The total investment from these three units is estimated to be PKR 1.2 billion while providing employment opportunities to 550 people, mostly locals belonging to the NMDs.

The Mohmand Economic Zone, situated in a strategically important location, is poised to become a thriving hub for industrial and commercial activities, offering numerous opportunities for investors and local communities.

It is expected that Mohmand Economic Zone will be awarded the status of a Special Economic Zone (SEZ), where the investors will benefit from SEZ incentives.

An application in this regard is under process and the Federal Board of Investment has already been engaged for this purpose.

The minister’s visit underlined the government’s dedication to fostering economic growth and industrial development in NMDs.

During his visit, the minister emphasized the importance of industries’ establishment and encouraged investors to explore the vast potential of the Mohmand Economic Zone.

He highlighted the government’s commitment to create a conducive business environment that will attract both domestic and foreign investors, ultimately driving economic growth and prosperity in Khyber Pakhtunkhwa.

Moreover, he laid emphasis on Corporate Social Responsibilities (CSR) in the area where the stakeholders should contribute.

This should include medical dispensaries, basic health units, education, scholarships for technical education, and other facilities for the locals.

He also recommended enhancing the capacity of food and beverage units operating within the zone, focusing on areas like food safety and hygiene, quality control, waste management in coordination with Halal Food Authority.

KPEZDMC in partnership with Pakistan Council of Scientific and Industrial Research (PCSIR) is also in advanced stages to initiate a project on the slurry management of marble waste, thereby disposing hazardous material in a controlled manner to the environment.

The said project would introduce the establishment of settling tanks, the caretaker minister proposed to have them installed at all the zones that comprise marble factories.

Copyright Business Recorder, 2023