Minister for Industries and Commerce outlines initiatives to attract investments and bolster economic activity, with a focus on Karachi.
In a recent meeting with the Federal B Area Association of Trade and Industries (FBATI), Jam Ikramullah Dharejo, Sindh’s Minister for Industries and Commerce, unveiled the government’s strategy to create new industrial zones across the province, particularly in Karachi. The aim is to attract both local and foreign investors, stimulating economic growth and creating employment opportunities.
The proposed industrial zones, including locations like Port Qasim, seek to invigorate industrial activities and serve as commercial hubs within the province. To support this endeavor, the Sindh Government plans to allocate funds in the Annual Development Plan (ADP) for infrastructure development in seven industrial zones across Karachi, aiming to facilitate existing industrialists.
Furthermore, the government aims to streamline processes for industrialists by introducing one-window operations, ensuring swift resolution of issues. Additionally, provincial departments such as the Sindh Environmental Protection Agency, Stamp Duty, and EOBI are directed to support industrialists, minimizing disruptions to business activities.
In discussions with the federal government, the provincial ministry is advocating for the provision of natural gas and electricity in line with constitutional rights. Moreover, plans for public-private partnerships are underway to establish combined effluent plants in industrial zones, meeting international standards.
While welcoming the initiative, FBATI President Syed Raza Hussain emphasized the importance of continued collaboration between the government and industrialists to address industry challenges effectively. He highlighted the scarcity of industrial land in Karachi and suggested affordable financing schemes to encourage expansion.
Echoing concerns, CEO FITE Babar Khan noted the interest of Chinese investors in Karachi but underscored challenges such as infrastructure deficiencies and security issues. He cautioned against the potential relocation of companies to Punjab due to favorable conditions there.
Looking ahead, stakeholders emphasize the need for an industrial belt spanning from Karachi’s outskirts to major cities in Sindh, equipped with necessary infrastructure to accommodate industrial activities and attract investments.
