Pakistan-China economic zone a dead project

August 17th, 2011 - 1:30 pm ICT by IANS  

Islamabad, Aug 17 (IANS) An ambitious Pakistan-China Economic Zone that was to be spread over 1,000 acres in Khyber Pakhtunkhwa province is now “a dead project”, said an official.

The provincial government has decided to expand the Hattar Industrial Estate by using 1,000 acres originally meant for Pak-China Economic Zone.

“The Pak-China Economic Zone (CPEZ) is a dead project now and a part of the land acquired for it has to be used for some other purpose,” an official told Dawn.

The economic zone was part of the President’s Initiatives for Trade, Energy, Transport and Industrial Corridor that was launched in February 2007. It invesigated the creation of new economic opportunities with the China’s support.

An official said the federal government shelved this project due to financial crunch and the decision on whether to continue with the project was left to the province.

“…since the land has already been acquired the government has decided to expand the existing Hattar Industrial Estate, as the land is adjacent to the estate and there is also a demand for new plots,” said the official.

He said the Khyber Pakhtunkhwa government had allocated Rs.400 million for the infrastructure development.

Related Stories

Tags: , , , , , , , , , , ,

Posted in South Asia |