Chief Minister Mahmood Khan stated that the provincial administration had developed nine new Economic Zones (EZs) and resurrected 167 sill industrial units over the past four years.
In a statement released from the Chief Minister’s Secretariat on Sunday, the chief minister identified the new economic zones as the Jalozai Economic Zone, the Nowshehra Economic Zone (extension), the D.I. Khan Economic Zone, the Rashakia Special Economic Zone, the Chitral Economic Zone, the Hattar Special Economic Zone, the Bannu Economic Zone, the Ghazi Economic Zone, and the Mohmand Economic Zone. In the near future, the Daraband Special Economic Zone, Salt and Gypsum City Karak, Buner Economic Zone, Katlang Economic Zone, and Mansehra Economic Zone will also be established.
In the above-mentioned economic zones, approximately Rs338 billion have been invested, resulting in the revitalization of 167 ailing industrial units and the establishment of 366 new industrial units.
The province administration is devoting special attention to the industrial sector in order to create employment and livelihood opportunities, as stated by the chief minister, who described industrial growth as being of fundamental importance for economic stability. He stated that the provincial administration was working diligently to foster an atmosphere friendly to industrialists and attract investment.
He made it obvious that economic progress could only be achieved by expanding exports through industrialisation, which required true and dedicated leadership to serve the general populace.
The Khyber Pakhtunkhwa Government is employing a comprehensive and well-thought-out strategy to modernise the industrial sector, he said, adding that multidimensional development activities were underway throughout the province to stabilise the provincial economy and provide employment opportunities for the youth.
In addition to revitalising ailing sectors in the province, according to Mahmood Khan, the provincial government is seeking to build many new economic zones. He stated that the introduction of the industrial policy 2020, the Khyber Pakhtunkhwa Commerce & Trade Strategy 2020, and the investment promotion strategy are among the key policy measures of his government aimed at promoting the industrial sector in accordance with contemporary needs.
The Chief Minister stated that the provincial government was also promoting self-employment in the province, adding that loans totaling Rs1 billion had been provided to youth under the first phase of the Insaf Rozgar Scheme for the establishment of small and medium-sized businesses, and that the second phase of the Rozgar scheme had also been launched.
It is important to note that 71 development projects have been incorporated into the current Provincial Annual Development Program to ensure the sustained development of the industrial sector. To boost small and medium-sized businesses in the province, a Rs12 billion Saaf Finance Scheme has been created. At Dubai Expo 2020, 44 MoUs totaling $8.0 billion were signed to encourage international investment in the province.