Abdul Ghani

ISLAMABAD, July 18: The Rashakai Special Economic Zone will be the first SEZ under the China-Pakistan Economic Corridor (CPEC) that will be provided with all the utilities, including electricity and gas, by October 2022, said Dr. Liaqat Ali Shah, Executive Director and Head of Policy Division at the CPEC Authority, while talking to WealthPK.

‘’Work on the CPEC projects, especially on the Special Economic Zones, will be speeded up,’’ he said, adding, ‘’Rashakai Special Economic Zone is all set to be operational by October this year, as all the requirements of energy supply to the zone have been fulfilled.”

Dr. Liaqat further said energy supply was a necessity for the industries to operationalize and the Government of Pakistan and China were jointly working to overcome the energy deficit for the CPEC projects.

‘’All the other special economic zones, including Dhabeji Special Economic Zone under the CPEC, are focused primarily to be supplied with energy to run the industries in those special economic zones in order to reap the CPEC dividends,’’ he added.

Rashakai SEZ is spread over an area of approximately 1,000 acres. For managing its affairs, Rashakai Special Economic Zone Development and Operations Company (RSEZDOC), a special purpose vehicle, has been set up as a joint venture between KPEZDMC and China Road and Bridge Corporation (CRBC).

RSEZ is located at an ideal place, which is the confluence of five major districts of KP and is reachable through a network of roads, motorways, and railways. The Government of KP, KPEZDMC and China Road and Bridge Corporation are developing RSEZ, which is expected to provide 200,000 direct and indirect jobs to the locals.

Speaking to WealthPK, Dr. Idrees, Dean Faculty of Social Sciences, Quaid-i-Azam University, Islamabad, said the prioritized SEZs launched under the CPEC had attracted huge attention.

‘’Dhabeji SEZ will create 75,000 jobs and bring $3b investment by 2025. Rashakai SEZ is being marketed and developed in China. This SEZ will bring $1b investment and create 50,000 jobs by 2030. Allama Iqbal Industrial City (AIIC) will create 300,000 jobs and bring $5b investment. The AIIC will allow the relocation of Chinese industries, as China is running out of cheap labour; this provides Pakistan with a great opportunity,’’ said Dr. Idrees.

Certainly, the Phase-II CPEC projects are indispensable to the economic gains of the multi-billion project. However, this requires more vigilance in operationalizing them. Among others, it is important that the government institutions and ministries coordinate with the Ministry of Planning and Special Initiatives. This shared effort will ensure the success of the CPEC projects.

Credits: INP-WealthPk