By Abdul Ghani

ISLAMABAD, July 21: The special economic zones being set up in different parts of the country under the China-Pakistan Economic Corridor will reduce unemployment by 30 percent, WealthPK reports.

The Rashakai, Allama Iqbal and Dhabeji special economic zones will also promote industrialisation in the country.

Dr Mahmood Khalid, a senior research associate at the Pakistan Institute of Development Economics (PIDE), said that the special economic zones have immense potential to reduce unemployment, especially among the residents of the relevant areas.As industrial units will be established in the special economic zones, a large number of jobs for unskilled labourers will be created.

Quoting the findings of a recently conducted research study, Dr Khalid Mahmood told WealthPK that unemployment would be reduced by 30 percent in the areas where the special economic zones are being set up. Sectors such as manufacturing, and energy will require labour force and the local population in these areas are labour-intensive.

Adnan Khan, a research associate at the Centre of Excellence for CPEC, said that the potential of the mega project to create employment opportunities and control joblessness is beyond a shadow of any doubt. The industries being established in Pakistan in the second phase of CPEC would create enormous job opportunities.

He told WealthPK that the government has expedited the pace of work on the three special economic zones to control joblessness in the country.

CPEC has smoothly entered its second phase. The development priorities are also gradually shifting to the industrial sector and expanding agricultural cooperation between the two countries.

Pakistan is an agricultural country with a population of 220 million and fertile land. Agriculture along with other important sectors including manufacturing and textiles has been given priority in the second phase of CPEC.

The joint efforts of both China and Pakistan have resulted in the successful execution of the first phase of CPEC. Both countries are striving to complete the mega project to develop the region and improve the living standard of people. CPEC will also bring closer the people of China and Pakistan besides promoting industrialisation and tourism in the region.

The first beneficiary of CPEC will be the people living in those areas of Pakistan where roads have been constructed and special economic zones are being established. However, Pakistan needs to enhance public-private partnership in this regard so that the local youth can be engaged and employed in the projects under CPEC.

Credits: INP-WealthPk