Special Economic Zones (SEZs)

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Industrial development is considered one of the most reliable strategies to promote the long-run growth of an economy. Many countries have been adopting industrial development planning to improve their economic growth over the last few decades. The Asian Tigers can be a glaring example in this regard. In the pursuit of industrial development, one strategy is to specify areas for industrial development such as business parks, industrial estates, export procession zones or special economic zones. For instance, since 2009, nearly 1750 Special Economic Zones (SEZs) have been established by China at provincial and state levels. According to estimates, SEZs have contributed about 22% of China’s national GDP, 46% of Foreign Direct Investment (FDI), and 60% of exports. Moreover, 30 million jobs have been generated by these SEZs in China. Pakistan has also endeavoured to pursue this strategy for the economic growth in the past, but it could not generate desired results, but now under CPEC, it has unleashed its comprehensive plans to establish nine SEZs in various parts of the country. This time it seems that it will work for Pakistan’s dream of economic prosperity. Under the China-Pakistan Economic Corridor (CPEC), nine new SEZs have been proposed at different locations in Pakistan which include Rashakai Economic Zone , M-1 in Nowshera, Dhabeji Special Economic Zone in Thatta, Bostan Industrial Zone in Pishin, Allama Iqbal Industrial City in Faisalabad, ICT Model Industrial Zone in Islamabad, Industrial Park Pakistan Steel Mills Port Qasim in Karachi, Mirpur Industrial Zone in AJK, Mohmand Marble City in Mohmand Agency and Moqpondass SEZ in Gilgit-Baltistan. The launch of the Rashakai Economic Zone by Prime Minister Imran Khan is a step forward to turn Pakistan into an industrialized country that would prosperity for the nation. While addressing the commercial launch of Rashakai’s Prioritized Special Economic Zone in Nowshera, he said that wealth creation is impossible without industrialization.

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