KARACHI
Dhabeji Special Economic Zone (SEZ) – which is spread over 1000 acres and is linked with China-Pakistan Economic Corridor (CPEC) – is ready for allotment to the investors. The Sindh Board of Investment has also received investment commitments for the entire zone from Chinese and local investors.
“Everything is OK. The feasibility has been awarded to the consultants that should be ready in 90 days after due consultations with the stakeholders. Then, allotment will start,” said Chairperson SBI, Ms Naheed Memon at a media briefing here after meeting with Chinese investors in her office Friday.
Director SBI, Abrar Ahmed Shaikh and Head of SBI Public Relations Department Hassan Naqvi were also present.
SBI Chief remarked that for making Sindh province more attractive for investment, the provincial government was also seriously working on its industrial policy.
She said, as per advice from the federal government to the provinces, Sindh had submitted two projects – Dhabeji SEZ and Keti Bander project – to be included as industrial zones.
In the first phase, Dhabeji SEZ, located on the National Highway and 50 kilometers off Karachi Airport, had been incorporated in CPEC.
She said, this project had received a very positive response especially from Chinese investors who were keen in joint ventures with Pakistani private sector. Major commitments so far received from Chinese companies were for pharmaceutical, chemicals, steel and garments industries.
This project would be a model for Pak-China industrial cooperation and would be a big success story for both the countries, she re-affirmed.
She articulated that at least two billion dollars output and over 100,000 jobs (direct and indirect) were expected from this SEZ.
Karachi would be a very large market as, after the recent census, its population was expected to increase to 32 million, she said.
Ms Naheed Memon informed that a team of China’s National Development Reforms Commission was due to visit Islamabad next month and would have working sessions with the concerned federal and provincial departments. The latest status of this project would also be presented to them. NDRC was looking after the China’s entire ‘One Belt-One Road’ programme.
She informed that Karachi was the 5th largest city of the world and it had great potential for different businesses.
She said that after partnership in energy, infrastructure and transport sectors, both the countries had moved to industrial cooperation. This was very important in the light of global nexus being developed. Huge Chinese investment was expected on this account.
In December 2016, she said, Pakistan and China’s government representatives and officials held a meeting on the industrial cooperation and the fourth working group was formed, on the pattern of three dealing with the above sectors.
SBI Chairperson said Sindh had taken a lead by coming up with three other SEZs at Port Qasim , Korangi and in Khairpur.
She praised Sindh Chief Minister Syed Murad Ali Shah, his cabinet and the government institutions terming them as very active for industrial promotion, especially under Pak-China cooperation.
China was doing the best for Pakistan. It was providing loans on very soft terms. ‘Our’ private sector should also take maximum benefit from this nexus, she emphasized.
“All these economic and social initiatives can only materialize when we become strong partners with Chinese. We should not look at Chinese investment as an alien thing,” she remarked.
When SBI Chief’s attention was drawn to the issues facing the existing industries in Karachi, she assured that Sindh Government at its end was making best efforts to provide maximum facilities. For resolving the issue of shortage of water, it was working seriously on K-4 water supply scheme; a joint project of Sindh and Federal governments. Part two of this project would be included in the next annual provincial budget.
To another query, she said Sindh government would be supporting the SEZs initiated by private sector as well.
