KARACHI: Planning and Development Minister Asad Umar has said that a first industrial unit is being set up in Khyber Pakhtunkhwa’s (KP) Rashakai Special Economic Zone (SEZ).
On a social media website Twitter, Asad Umar said, “China Pakistan Economic Corridor (CPEC) is moving practically into the exciting phase of industrial cooperation with foreign investment transferring technology & creating jobs.”
“CPEC is moving practically into the exciting phase of industrial cooperation with foreign investment transferring technology & creating jobs.” He added.
Attended ceremony at karachi port on arrival of machinery for century steel, 1st industrial unit being set up in the rashakai SEZ in KP. CPEC is moving practically into the exciting phase of industrial cooperation with foreign investment transferring technology & creating jobs
— Asad Umar (@Asad_Umar) April 4, 2021
Earlier, Asad Umar had confirmed that the development agreement was signed between Pakistan and the Chinese side. “I want to share that the development agreement for establishing SEZ at Rashakai signed” he added.
He said that the government prioritized its federal development program through mid-year review and diverted Rs 6.8 billion for the provision of electricity and gas at different SEZs under China Pakistan Economic Corridor (CPEC).
The minister said that under the Early Harvest Program (EHP) around $29 billion were completed and nearing completion and it was a huge amount invested in the country under the CPEC framework.
The Chinese side would install a power plant of 300 MW at Gawadar when the government would connect Gawadar with the national grid because it would help the company to provide additional electricity to other parts of the country through the national grid, he added.
