9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

Hub SEZ expected to create 90,000 jobs – Business Recorder

Impact team
Written by Impact team

Hub SEZ expected to create 90,000 jobs  Business Recorder

Special Economic Zone (SEZ) in Hub, Balochistan, is expected to create 90,000 jobs in 211 industrial units.

Out of 90,000 jobs, 15000 jobs would be created directly and 75000 indirectly, the official documents of the project showed.

Project was approved by Central Development Working Party (CDWP) and is in line with the government’s strategy to provide favorable environment for industrial sector to produce internationally competitive products. Establishment of Hub Special Economic Zone will boost industrialization in the area which will ultimately lead towards enhancement in exports. This will lead towards contraction in the twin deficit thus contributing to overall economic development of the country, the working paper of the project indicated.

Project documents showed that rapid industrialization is a key to economic growth and the project is a step towards providing basic facilities for industrial sector at a strategic location of Hub Balochistan to enjoy instant benefits in the backdrop of China Pakistan Economic Corridor (CPEC).

The project is designed to provide all of the basic facilities in the area for the prospective investors.

In line with the objective of federal government, the project is beneficial for industrial as well as socio-economic development.

The project envisages establishment of Hub Special Economic Zone by providing basic amenities to the industrial sector in the area. As many as 211 industrial plots will be developed on 406 acres of land along with development of warehousing plots, fuel dispensing station, weighbridge, mosques, wastewater treatment plant, car parking, etc.

The project has been approved at the cost of Rs2.287 billion. The government would contribute Rs2 billion funding for it.

According to project document, it is being developed by relating it to issues of industrial sector which range from absence of strong industrial base and unfeasible business environment, low share of 13 percent to GDP by manufacturing sector to major reliance on import of goods and lack of indigenous production, uncompetitive products, inadequate supply of skilled human resource and lack of

advanced technology, innovation and R&D in industrial sector. According to the working paper, the project is linked to the government policy which envisages provision of a level-playing field for industrial sector through development of SEZs, establishment of training centers to ensure supply of skilled workforce, developing of technologically advanced manufacturing sector through transfer of technology and lowering of reliance on imports and enhancing indigenous production of imported products.

Copyright Business Recorder, 2020

Source: brecorder.com

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