View attachment 707138
In a major development, the Special Economic Zone Committee has approved the first Provisional Allotment to a foreign firm as the Zone Enterprise in Rashakai Special Economic Zone (RSEZ) in Peshawar.
The SEZ Committee of Rashakai SEZ has allocated 40 acres of land to Century Steel (Pvt) Ltd., which is owned by M/S Fuzhou Julitaihe International Company, a Chinese conglomerate engaged in manufacturing and sale of Iron and Steel products internationally. Fuzhou Julitaihe International Company owns steel mills in Indonesia, Myanmar, Cambodia, and Ethiopia.
Century Steel Pvt Ltd. plans to invest USD 50 million and will produce 0.25 million tons of steel products in their plant in Rashakai SEZ. The project will consume 45 MW of electricity and employ 1000 manpower directly and indirectly. Resources from China have been mobilized and Chinese engineers and personnel are setting up a site office to execute the project without delay.
Hassan Daud Butt, CEO KPBOIT & SEZA has termed the development as momentous, saying it has heralded the dawn of the industrialization of KP as the first Zone Enterprise from China has been admitted to the Rashakai SEZ. “A lot of applications have been received for plots and many industries will be starting construction shortly at the Zone,” he added.
“Rashakai Special Economic Zone is welcoming industries like Pharmaceutical, Textile, Food & Beverages, Steel, and various engineering-related industries. This initiative by the Government of KP will provide direct & indirect job opportunities to 200,000 locals of the region once the SEZ is fully colonized. Investment of multi-billion is expected by industrialists from Pakistan and abroad. Online applications for RSEZ is open and applications of hundreds of acres have already been received,” he added.
If applications for "100s of acres" have been received then what is hold up why not burning the midnight oil and approving them post-haste?????
Pakistan will not progress till we have this inefficient bureaucracy and sarkari babu system. Foreigners are wanting to bring dollars into our country and we will deliberate on it for no good reason for months on end.