PESHAWAR:
Chinese investors are embarking on the establishment of a steel mill within the Rashakai Special Economic Zone (SEZ), as revealed by Khyber-Pakhtunkhwa (K-P) Chief Secretary Nadeem Aslam Chaudhry.
In a meeting with the province’s business community, Chaudhry highlighted key sectors earmarked for investment: mining, energy, information technology (IT), and tourism. These sectors are set to receive special attention for investment in the region.
Chaudhry underscored the provincial government’s commitment to facilitate investments in these sectors through the Special Investment Facilitation Council (SIFC). He assured potential investors of comprehensive facilities and support for their ventures. Concerning Pak-Afghan trade, Chaudhry noted a decline from a once $1.5 billion trade volume to $600 million, skewed in favor of Afghanistan. He urged local businesses to present strategies that would shift the balance in favor of Pakistan.
Efforts to address trade barriers with the federal government were pledged to enhance bilateral trade relations.
Responding to chamber of commerce’s demands, Chaudhry pledged land allocation for Gems Export City and District Economic Forums at the district level, subject to the Chief Minister’s approval. He endorsed the proposal for at least one Industrial Estate in each district and backed the idea of a Gemstone Corner at Bacha Khan International Airport to boost precious stone exports.
To establish the Gem City initiative, the Chief Secretary formed a working group, led by the Secretary of Industries, composed of representatives from the Mining Department, K-P Economic Zone Development & Management Company (EZDMC), Small Industries Development Board (SIDB).
Published in The Express Tribune, August 23rd, 2023.
Source link: https://tribune.com.pk/story/2432072/chinese-spearhead-steel-mill-venture