KP CM launches Bannu Economic Zone

F.P. Report

PESHAWAR: As an important development for boosting economic activities and creating employment opportunities in the province, the Caretaker government of Khyber Pakhtunkhwa has launched Bannu Economic Zone. Caretaker Chief Minister Khyber Pakhtunkhwa Justice (R) Syed Arshad Hussain Shah has formally performed the commercial launching of the Economic Zone.

An impressive ceremony to this effect was held here at Chief Minister’s House on Tuesday with Caretaker Chief Minister Syed Arshad Hussain Shah as chief guest on the occasion. Besides caretaker provincial minister for Industries Dr. Aamir Abdullah, secretary Industries Syed Zulfiqar Ali Shah, CEO of Khyber Pakhtunkhwa Economic Zones Development and Management Company (EZDMC) Javed Khattak, Board members of EZDMC and other relevant officials attended the ceremony.

The chief minister on the occasion, also distributed allotment letters amongst the investors interested in investing in the economic zone. Earlier, briefing the chief minister about the important features of newly established economic zone, it was informed that Bannu Economic Zone sprawled over an area of 415 acres, would have a total of 265 small and large scale industrial units and is likely to attract a massive investment of Rs 10 billion.

It was further informed that the economic zone would also create about 16000 direct and 48000 indirect employment opportunities. The chief minister on this occasion, was also briefed about the overall performance of EZDMC with special focus on the existing and upcoming economic zones in the province.

“Currently, a total of 14 economic zones are operational across the province having an investment of Rs 346 billion cumulatively”, the authorities told and added that work on establishing four another economic zones is also in progress. Addressing the ceremony, the chief minister Syed Arshad Hussain Shah extended his heartfelt felicitations to the management of Economic Zones Development and Management Company for successful launching of Bannu Economic Zone and said that newly launched economic zone would prove to be a milestone towards promoting sustainable economic development by paving the path of new industrial activities in the province.

He maintained that strategic location of the zone is of vital importance; it can emerge as hub of the economic activities not only for Khyber Pakhtunkhwa but other provinces and central Asia as well.

“This economic zone will also play pivotal role in the fast track development of southern districts and other adjacent areas of the region”, he said and added that it is dire need of the hour to bring forward the southern and merged districts in terms of development and prosperity; the caretaker set up in the province is going all out for providing employment opportunities to youth of these backward districts.

He made it clear that stimulating investment opportunities in the province is one of the priority areas of his government adding that the industrialists interested in the investment here would be provided with all out facilities and cooperation in the province.