Published On: Sat, Oct 10th, 2020
Published in Category: Peshawar

617 new Industrial Units established in KP

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Peshawar: Khyber-Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) has recorded an overwhelming response in its Economic Zones as investors have shown keen interest in establishing industrial units across KP.

Gadoon Amazai, once considered a graveyard for industries, has been remarkably restored with the establishment of new industrial units by adding several mega projects by national and international business groups. Despite the challenging times, a notable number of sick units have been revived in Khyber Pakhtunkhwa, while new industries are keen to set up their businesses.

As a result of the Provincial Government’s industrialization agenda, 617 new industrial units have been established across Khyber Pakhtunkhwa since 2014.

Furthermore, Government has taken various steps for the purpose filling decision related to ease of doing business that includes setting up “Ease of Doing Business Cell”, while also establishing industrial facilitation centers across all Economic Zones by providing one-window facility to the investors.

Moreover, the Government has also exempted 120 small trade businessesfrom trade license fees and inspection of Town Municipal Administration (TMA).

Reduction of sales tax from 15 % to 2% on services for 27 categories while 19 categories were exempted from professional tax upon registration with KPPRA.

The recent establishment of the new Economic Zones, i.e.,Jalozai, Nowshera (Extension), Mohmand, Rashakai Special Economic Zone and D.I.Khan Economic Zone would go a long way in realizing the concept of state-of-the-art Zones attracting foreign direct investment, paving the way for not only industrial growth but also for providing vast opportunities for employment in the province.

The Company also appreciated the Provincial Government and Board of Director’s support for their backing and guidance towards fast track industrialization in Khyber Pakhtunkhwa.