Phase I of Rashakai Economic Zone inaugurated

The Khyber Pakhtunkhwa (KP) Chief Minister (CM) Mohammad Azam Khan inaugurated Phase I of the Rashakai Special Economic Zone (SEZ) in Peshawar on July 22, signaling a significant milestone in the development of the China-Pakistan Economic Corridor (CPEC).

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Federal Board of Investment Secretary, Provincial Chief Secretary, China Road and Bridge Corporation (CRBC) General Manager, and Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) CEO attended the inauguration ceremony.

In addition, the Chief Minister praised CRBC and KPEZDMC for their exceptional efforts and unwavering dedication in completing Phase I of the project six months ahead of schedule. The first phase of the Rashakai Special Economic Zone consists of 247 acres of modern facilities designed to attract domestic and foreign investors, promote economic growth, and employment creation, and strengthen Sino-Pak cooperation within the framework of CPEC.

Currently, Phase I is home to 18 zone enterprises, with an additional seven under construction and an estimated PKR 85 billion in investment. The officials (whose identities were not disclosed) emphasized the SEZ’s role as a driver of regional prosperity, creating employment opportunities for the local populace and fostering foreign direct investment. In order to unlock the SEZ’s maximum potential during the ongoing CPEC decade, they disclosed plans for its upcoming second phase, which will expand infrastructure, streamline business processes, and attract key industries.