Islamabad: A special economic zone (SEZ) being constructed in Pakistan’s Khyber Pakhtunkhwa province under the China-Pakistan Economic Corridor (CPEC) will create over 200,000 job opportunities for the locals, a top official said.
Chief Executive Officer of the state-owned Khyber Pakhtunkhwa Economic Zones Development and Management Company, Javed Khattak told the media on Thursday that the Rashakai SEZ in the province is prioritized as a special economic park spreading over an area of about 1,000 acres near the provincial capital of Peshawar, reports Xinhua news agency.
The SEZ, a milestone of the implementation of industrial cooperation under the CPEC framework, will become an important trade hub, Khattak said.
The official said that the SEZ will have pharmaceuticals, textile, food and beverages, steel and various engineering related industries, and online applications for it are open.
He said the strategic position of the province connecting the country to Afghanistan will be fully utilised and its abundant natural resources will find new markets thanks to the province’s linkage to CPEC routes.
The CPEC is a flagship $62 billion project of Chinese President Xi Jinping’s Belt and Road Initiative that aims to connect Asia, Africa and Europe through a vast network of highways, rail lines and sea lanes.
The multi-billion dollar corridor connects the Chinese city of Kashgar with Pakistan’s Gwadar port on the Arabian Sea.