Allama Iqbal Industrial City Under Rapid Development

Islamabad

The four special economic zones, including Rashakai M-1 Nowshera, Dhabeji Thatta, the industrial cities Allama Iqbal, Faisalabad, and Bostan Baluchistan, will create approximately 475,000 direct and 1,000,000 indirect jobs across the country.

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Allama Iqbal Industrial City CPEC will promote the country's overall industrial growth, adding that the development of these four districts is the government's top priority. The 1,000-acre Rashakai Economic Zone has attracted more than 2,000 investments from different economic sectors at home and abroad, thereby promoting rapid industrialization. The Rashakai Special Economic Zone is connected to the provinces of Pakistan through airports, dry ports, railway stations, roads, and highways. The area is located at the intersection of the five main regions of Khyber Pakhtunkhwa, Nowshera, Mardan and Swabi, Carsada, and Peshawar. The special economic zone will cover more than 400 industries including clothing, textiles, household appliances, general commodities, electronic appliances, automobiles, and machinery and equipment. The development of the Faisalabad Allama Iqbal Special Economic Zone (SEZ) is in full swing. So far, 33% of the land has been purchased by 69 people. The total saleable land area of the Allama Iqbal Special Economic Zone is 2,276 acres. In 2007 foreign investors purchased 182 acres of land. Various industries in Pakistan and foreign countries have begun to work in the special economic zones. All these exclusive economic zones will have an impact on the region’s social economy by attracting more investment, stimulating industrialization, creating jobs, and ensuring export-oriented growth. Abdul Razak Dawood, the adviser to the Prime Minister of Trade and Investment, stated that the Rashakai Exclusive Economic Zone will point out a new direction for Pakistan’s industrialization and bring huge foreign direct investment to the country. The development of Rashakai’s exclusive economic zone is of great strategic significance because it is closer to the resource-rich Central Asian Republic and has also played a role in the economic integration of Rashakai. The government hopes to give priority to companies involved in generating exports or replacing imports. The special economic zone focuses on promoting export, import-substitution, technology transfer, and industrialization of job creation.

The Rashakai Special Economic Zone is the flagship project of the China-Pakistan Economic Corridor, and its success will strengthen the industrial cooperation between Pakistan and China. He said: “We hope to welcome Chinese companies in our special economic zones to establish joint ventures (JVs) with local investors and share a common experience to benefit local industries." He stated that the government prioritizes the development of special economic zones to attract foreign direct investment and technology transfer to the country.