KP CM signs Public-Private Partnership mode for Rashakai Economic Zone project


Khyber Pakhtunkhwa (KP) Chief Minister (CM) Mahmood Khan on Sunday agreed to sign an agreement on Public-Private Partnership (PPP) mode between KP Economic Zone and a relevant management company on the Rashakai Economic Zone (REZ) project.

The CM, who is also the PPP committee chairman, signed the agreement while presiding over a meeting on the matter here at the CM Secretariat. The meeting which was attended by Finance Minister Taimur Saleem Jhagara as the PPP vice chairman and other members.

Acting Additional Chief Secretary Shahab Ali Shah gave a briefing on REZ, the agreement for joint ventures and their important features as well as the preparedness level for undertaking the project.

The KP CM directed to ensure working on the policies of the government, following rules and law in the light of the recommendations made by the public-private partnership unit, adding that Rashakai Economic Zone is a priority project as part of the China Pakistan Economic Corridor (CPEC).

The meeting was told that the unit has already made certain recommendations for REZ which the prime minister had taken up with the Chinese government in his meeting with the Chinese top leadership.

The chief minister directed that in view of its importance, it is necessary to develop it on a priority basis as part of the overall CPEC package. He said that his government was committed to attracting foreign investment and had made a number of incentives for investors in this regard. The basic aim is to promote investment and industrialisation in the province.

Source: Pakistantoday