Ground-breaking of CPEC SEZ at Rashakai likely to be held on Nov 29.

Byline: Fawad Yousafzai

ISLAMABAD -- The ground-breaking of CPEC Special Economic Zone at Rashakai is likely to be held on November 29 and the government is considering special incentives for the export oriented industries in the proposed zones.

The government is also likely to provide Rs 2.8 billion for the provision of electricity to fives CPEC SEZs, official source said here.

Prime Minister Imran Khan will chair an important meeting today (Wednesday) on CPEC Special Economic Zones, where he will issue special directive regarding the provision of utilities to the economic zones during current fiscal, the official informed. The government is also considering special incentives for the export oriented or import substituting industries in the proposed SEZs, he said. The incentives will not be uniform rather it will be based on the volume of exports or import substitution, he said.

The official said that the development agreement for the Rashakai SEZ will be signed prior to the next meeting of the CPEC Joint Cooperation Committee which is scheduled on November 6. The ground breaking of the SEZ will be held on November 29, said the official. Total nine SEZs will be established under CPEC but three of them are in advanced stage. The second SEZ is Dabiji, where the Sindh government has invited international tenders for the development of the zone. Similarly, land acquisition for Allama Iqbal Industrial City (M3) has been completed, said the official. 'We have asked Chinese to provide us 30 to 40 firms in different field where we can discuss with them the possibility of starting business individually or in joint ventures with Pakistanis companies in the SEZs,' said the official.

The official said that Chinese industry in pharmaceuticals, agriculture, chemical, steel and Textile will be relocating to Pakistan.

No work had been done on the provision of utilities to the SEZs but now the work has been accelerated on the provision of electricity and gas to the SEZs, the official claimed.

The Prime Minister is likely to direct the Planning Ministry to release around Rs...