PESHAWAR, May 12: A Reconstruction Opportunity Zone (ROZ) will be set up in Shah Kas, a town on the outskirts of the provincial capital.

Plans about the ROZs were unveiled by US President George W. Bush during his visit to Pakistan.

The site for the proposed ROZ was selected by the Fata Development Authority (FDA) and the project would start once the US Congress approved a relevant bill, the authority’s chief executive, Muhammad Shehzad Arbab, told local businessmen here on Saturday.

Creation of the ROZs would encourage investment by granting duty-free access to goods produced in the area to markets in the US. So far, different US government teams have visited Pakistan and held talks with government officials and representatives of the private sector. Currently, the bill regarding the establishment of the ROZ is lying before the US Congress.

Briefing representatives of the business community, Mr Arbab said that textile, marble, gems and jewellery, leather and furniture units could be set up in the proposed ROZ.

He said the FDA would develop an industrial estate for the ROZ and allot plots to intending industrialists. He urged the SCCI’s office-bearers to designate their nominees to the FDA, who will be consulted for effectively running the ROZ.

He also urged banks to come forward and lend credit facilities to the private sector. Mr Arbab explained that the FDA, established in 2005, was currently working on a number of important uplift projects to improve socio-economic conditions of the tribal people, for which an amount of Rs120 billion had been allocated.

According to him, the FDA was currently initiating housing schemes in two tribal agencies, while construction of seven small dams was part of its future planning.

Haji Muhammad Israr, SCCI’s acting president, termed the setting up of ROZs as vital for the social and economic prosperity of tribesmen. He said the SCCI had already forwarded its recommendations regarding ROZ to the concerned quarters, adding it will actively participate in the project.

Former SCCI president Ghulam Sarwar Mohmand, executive members, Haji Muhammad Asif, Shahid Munir, Zia-ul-Haq Sarhadi, Zahid Arif and Abdul Hamid Gorwara also spoke on the occasion.