CPEC’s Phase 2 to boost economic growth, create jobs


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ISLAMABAD: Representatives from Board of Investment (BOI), on Tuesday, stated that the second phase of China Pakistan Economic Corridor (CPEC) indicates a positive impact on economic growth and creation of job opportunities. 

As per the official, the Chinese investment in several sectors have reaped positive benefits in terms of enhancing the capacity building of citizens, facilitating employment and transferring authentic information. 

The official further stated that in the coming phases, the focus will be on development of Gwadar Port, agriculture, technology, science and industrial parks. 

According to sources, the Chinese investors were particularly showing interest in cement, textile, steel and auto sectors. 

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SEZs to promote economic growth, create 1.47m jobs


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ISLAMABAD: Construction on four Special Economic Zones (SEZs) is underway which will boost economic activity and create 1.47 million jobs.

“Rashakai M-1 SEZ (Nowshera), Dhabeji SEZ (Thatta), Allama Iqbal Industrial City (Faisalabad) and Bostan SEZ (Balochistan) will create around 475,000 direct and 1 million indirect jobs across the country,” a representative of the Board of Investment (BoI) told APP.

As per an official, the SEZs will promote economic activity and provide investment opportunities for businessmen.

As per reports, the Rashakai SEZ has already attracted 2000 investors from foreign and domestic spheres in various sectors and is playing a vital role in promoting industrialisation in the country.

The SEZ would be developed in three phases. The federal government will designate Rs 1.2 billion gas supply and 210 megawatts of electricity to the SEZ.

“There is fertile land in the adjoining districts which is suitable for growing a variety of cash crops and vegetables,” a senior official stated. “The SEZ will house more than 400 industrial units including those of garments and textile products, home appliances, general commercial goods, electronics and electrical appliances, automobiles and mechanical equipment.”

 

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