PESHAWAR: The Khyber Pakhtunkhwa federal government is intending to introduce three industrial estates in Chitral, Ghazi (Swabi) and Bannu under its revised Industrial Policy 2020-30.
Though at first conceived under the Khyber Pakhtunkhwa Industrial Plan 2016, these jobs are currently in lasts and would witness groundbreaking quickly, according to authorities.
An official of the Khyber Pakhtunkhwa Economic Zones Advancement as well as Management Firm (KPEZDMC) said that considering that July last, the firm has actually done groundbreaking of three industrial zones: Jalozai, Nowshera extension as well as Dera Ismail Khan industrial zone.
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The official claimed the company got an overall of 371 applications against 556 acres of land for Jalozai industrial estate as well as Nowshera received 1,359 applications for 1,560 acres.
The official said that Ghazi industrial estate has obtained 97 applications versus 179 acres as well as Chitral 75 applications against 247 kanals of lands.
He stated that despite the delay in launch of Rashkai Prioritised Special Economic Area as a result of Covid-19, Century Steel which is owned by Fuzhou Julitaihe International Firm (a Chinese empire engaged in production and sale of iron as well as steel items internationally) has been allotted 40 acres of land for setting up its manufacturing facility. The authorities said the company would certainly invest $50 million as well as will generate 0.25 m tonnes of steel items at this plant, besides employing 1,000 people.
He said the KPEZDMC has actually given discount totaling up to Rs555m to investors in the Hattar special financial zone located in Haripur.
The government has actually additionally laid down a solid structure for the district’s industrialisation in the form of revised Industrial Policy 2020-30 which the cupboard authorized in the direction of the end of December last year, the authorities added.
A senior government official aware of composing of the plan informed Dawn that in comparison to 2016 policy, which was much more focused on roping in a lot more investors via incentive package; the revised policy was targeted at industrial growth, revival of shut units and also competitiveness.
To foster commercial growth, the policy suggests to establish Rashkai Special Economic Area and Nowshera Economic Area expansion, Jalozai, Chitral, Mohmand, Ghazi, Darband, Swat, Buner as well as Shakas location of Khyber Pakhtunkhwa area over following years. It additionally recommends to set up two unique economic areas under the public-private partnership in the province over the next 5 years.
The government would additionally try to establish little and also moderate enterprise as well as home industry.
Regarding closed commercial units, the plan proposes to revive at least 25 percent of shut systems over following 5 years.
Currently, there were 306 shut industrial devices in different industrial estates of the district out of a total of 1,096 units.
To restore these units, the record suggests to discover methods for joint endeavors with foreign as well as local financiers as well as mapping of these devices within 6 months by appropriate firms, which then will certainly be utilized to provision of financial as well as non-financial motivation package to these units.
To boost the district’s competitiveness, the plan suggests to leverage province’s natural resources to make the commercial market affordable. To attain this, the federal government will certainly concentrate on hydel power generation; mines as well as minerals; oil and gas; food and drinks; handling as well as cottage sector.