Peshawar: The KP-EZDMC (Khyber Pakhtunkhwa Economic Zones Development & Management Company) has released a report of all the special economic zones developed during 2022.
As per details, the government has developed nine new economic zones in coexistence with a Chinese partner during the last three years to promote industrialisation and grab the attention of local and foreign assets in the industry. It also has high-value economic zones with a clear focus on industrial development and tax benefits for business proprietors. In addition to the current SEZs, the government is reportedly considering the installation of seven more SEZs in the province.
As per the analysis, all SEZs are supervised by a particular company established under Section 42 of the Companies Ordinance, 1984. The government of Khyber Pakhtunkhwa entirely owns these. In expansion to managing the development work, the consortium oversees the industries that move into these SEZs to maximise advantages and produce jobs.
It is worth noting that created an SEZ company in response to a contract with the Chinese government to start the second stage of the China-Pakistan-Economic-Corridor (CPEC) project, which is a USD 64 billion initiative aimed at developing a various economic base for Pakistan.
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