The famous Rashakai cloth market is popular across Pakistan. This KPK bara was famous even before the Rashakai interchange was made on the M1 motorway in 2007. Rashakai has a special economic zone. The officials gave the status of SEZ to Rashakai in August last year. This is a very important project under the China-Pakistan Economic Corridor (CPEC). Both the countries reached a mutual agreement on important discussions this Monday.
New job opportunities:
Prime Minister Imran Khan said that the establishment of the Rashakai SEZ would enhance industrialization and increase job opportunities. Many people from KPK have left the country to work in the Gulf area due to a lack of job opportunities in the province.
In the last few decades, the speed of industrialization massively slowed down in Pakistan. However, Chairman CPEC Asim Saleem Bajwa believes that the development of the economic zone in Rashakai will rapidly improve its pace. In November 2019, the government made Bajwa as the chairman of the China-Pakistan Economic Corridor Authority.
Importance of this Zone
This zone will also prove to be a vital part in talks with Afghanistan. This is due to Rashakai’s geography. Quality education through CPEC will change the fate of the province. Besides this, the Rashakai SEZ will provide luxurious comfort in the form of modern residential and industrial buildings, sports arenas, and theme parks. This project overall will require an amount of 4 billion dollars.
Other economic zones:
Chairman of the Board of Investment, Atif R Bokhari said, this 1000-acre economic zone will aid in developing multiple other zones. He added that work on other zones is also underway. The suggested places for other zones are: Dera Ismail Khan, Buner, and Hattar. The government will give Rs.3 billion to supply essential resources like electricity and gas.
CPEC is bound to improve the economy of Pakistan. China and Pakistan will share the economic gains from this corridor. The work was slowed down in the recent past, but the government is pushing hard to meet the goals.