Upcoming SEZs of Pakistan will create 1.47 million jobs, promote industrial growth

With 4 Special Economic Zones (SEZs) under construction in Pakistan, the result is expected to generate a total of 1.47 million jobs and to drive the local sector in Pakistan towards sustainable economic development.

A Senior Board of Investment (BoI) official told APP on Monday, reports Global Village Room, 'The four Secretariats, including Rashakai M-1 Novshera; Dhababeji Thatta; Allama Iqbal Industrial City Faisalabad and Bostan Baluchistan, will generate about four hundred seven thousand jobs in the country.'

The official said during his talk to the APP that the SEZs that form part of the China Pakistan Economic Corridor (CPEC) will support the country's industrial growth in its overall scope.

He was of the view that industrial cooperation between Pakistan and China would make Pakistan a productive hub in the region and that the setting up of industrial areas would give local industries huge investment opportunities.

More than 2 000 acres of domestic and foreign investments in various sectors of the economy have already attracted the economic region of Rashakai, thus encouraging rapid industrialization.

The area would be constructed in three phases and 247 acres in the first, 355 acres in the second, and 399 acres in the third phase would be developed according to the proposal.

Similarly, 210 MW of electricity will be delivered to this area by the federal government in three phases and 1203M for the gas in this region.

80 percent of the local population would be employed in this district, he added, saying that Rashakaï could develop into an economic hub.

In the meantime, Trade and Investment Consultant Abdul Razak Dawood emphasized that a landmark in Pakistan's commercial and industrial growth was the Special Economic Zones (SEZs).

Accommodating foreign investment, the Advisor said that the special economic areas would pave the way, laying a landmark in the country's industrial modernization and diversification.

He said the Government prioritized the creation of Special Economic Zones (SEZs) in order to draw FDI and technology transfers to the country.