Omar1984
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KARACHI: Sindh is one of the strongest provinces for investment owing to Karachi that is the financial capital of Pakistan having Karachi Stock Exchange with market capitalization of $30.5 billion, listed capital of $9 billion and the nucleus of headquarters of major banks, financial institutions and business houses as well as emerging opportunities in energy sector.
This not only holds true of Sindh alone but also makes Pakistan as a whole a worthy destination for investment, said Muhammad Zubair Motiwala, Advisor to Chief Minister Sindh on Investment in a seminar held by KCCI on investment opportunities in Sindh on Saturday.
Motiwala termed Sindh as the regional power house of the future encompassing the Thar Coal Resource with potential of 200,000 megawatt for 300 years, Wind Corridor having 50,000 megawatt potential, 56 per cent Oil and 71 per cent gas producer for Pakistan.
He said that Sindh holds large agricultural, industrial and aqua culture base, with agriculture sector contributing 23 per cent, large scale manufacturing 43 per cent and small scale manufacturing 25 per cent to GDP.
On the on-going investment projects, Motiwala informed about the Karachi Education City project, spread over 9,000 acres on both sides of link road between National & Super Highway having AKU, SIUT, ZABIST, SSUET, BIZTEK as stakeholders.
He also spoke of the Pak-Japan Special Economic Zone spread over 2,000 acres at Dhabeji being actively pursued with Government of Japan and the Japanese private sector for its development and relocation of Japanese businesses.
Besides, Hyderabad-Mirpur Khas Dual Carriageway, Khairpur Agro-Processing Zone, Textile City at Bin-Qasim, Marble-City Karachi will provide immense employment opportunities, boost exports and foreign exchange earning and will usher a new era of economic activity, he maintained.
He also highlighted the immense investment opportunities in wind energy farms, mines & minerals, urban transport, IT, services sector, livestock farming, dairy farming, aquaculture, fish and shrimp farming, horticulture processing and packaging whereby SBI is providing facilitation for land allocations, concessions and approvals from the Government and feasibility projects and business research in agro-processing and aquaculture sectors.
About overall investment perception in Pakistan he said that no MNC incurred a loss while doing business in Pakistan and OICCI perception survey 2009 depicts that over 74 per cent of foreign investors have shown interest in continuing to invest in Pakistan.
He stated that Pakistan has a liberal tariff regime, extending an enabling environment for investment opportunities, providing a coastline of 350 km with two major multipurpose ports, wide network of industrial estates and trained educated and affordable human resource.
Quoting the Japanese companies operating in Pakistan he said that they had had profitable operations for over 22 years without any difficulty in repartition of profits.
Also speaking about the role of Sindh Board of Investment he said that it has been established as the present governments resolve to strengthen business environment in the province of Sindh and a principal Provincial Investment Agency to facilitate Foreign & Local Businesses committing to act as a bridge between the Government & the business community.
The chief guest, Nisar Ahmed Khuhro, Acting Governor Sindh & Speaker Provincial Assembly, added that Sindh Government is in close contact and coordination with the business community to restore the confidence and to promote local and foreign investment in Sindh.
He underlined the need of practical and persistent policies on investment and business friendly environment for enhancing the confidence of investors.
Siraj Kassam Teli, Chairman Businessmen Group concluded that despite of all these opportunities and business enabling resources, the businesses suffer a setback in Pakistan due to the negative perception of the country abroad caused by biased western propaganda which is needed to be redressed so that it could pave way for more foreign investment into the country.
