Murad says his government encourages investment opportunities with New Special Economic Zones, Incentives

KARACHI : Sindh Chief Minister Syed Murad Ali Shah during his meeting with Australian High Commissioner Mr Neil Hawkins said that his government has launched various initiatives to attract both local and foreign investment.

The meeting was held at CM House and was attended by Secretary to CM Raheem Shaikh.

The CM and the Australian High Commissioner discussed matters of mutual interest, including investment, climate change, the Indus Delta, Archaeology, and others.

Mr Hawkins said that the Indus Delta was historic and most importantly needed to be protected. At this, the CM said that Pakistan was a water-starved country. “Sindh being the lower riparian province is faced with water shortage, therefore the water required to be released to [downstream Kotri] sea has been an invincible job,” he said and added as a result, sea intrusion has become a big threat.

Mr Shah said that apart from Dhabeji SEZ, other key zones are ready for investment including the Bin Qasim Industrial Park (BQIP) and Korangi Creek Industrial Park (KCIP), where utilities and land are readily available. Additionally, following the Sole Enterprise Special Economic Regulations, 2020, single enterprises investing at least USD 50 million can attain SEZ status, with two such zones already operational in Sindh.

The Sindh Enterprise Development Fund (SED) has mobilized private investments amounting to Rs 7 billion in sectors such as agriculture, mining, and mineral processing, offering a subsidy scheme to boost productivity, the CM said and added this initiative has generated an economic impact worth 10 times the invested amount.

During the discussion, Mr Shah told the visiting Australian diplomat that the provincial Investment Department has also conducted pre-feasibility studies in key areas such as  Stones & Granite, Livestock, Agriculture, Food Processing, Fisheries, and Dairy which are now available on their website for potential investors. “To further improve the business climate, the Sindh government partnered with the World Bank Group, implementing the Doing Business Reforms Agenda, resulting in Pakistan’s 39-position rise in the Ease of Doing Business Index.

According to the chief minister as part of the Competitive and Liveable City of Karachi (CLICK) project, a one-stop regulatory approval system for 16 departments is in development to streamline investment procedures. Additionally, the department is collaborating with the Mines & Minerals Department to establish an SEZ in Tharparkar.

The Investment Department remains committed to facilitating investors and showcasing Sindh’s investment-ready projects at both national and international forums.

Australian High Commissioner said that he visited Bambhore where while recording his impressions in the visitors’ book, he spotted the message Shaheed Mohtarma Benazir Bhutto had recorded was of great value in terms of the content, the [English] language. “I have taken its photo, and it would be part of my personal record,” he said.

The CM and the visiting envoy also discussed hockey because both are hockey players. Mr Murad said that he has developed hockey grounds with blue turfs all over Sindh, but the result of the investment has not been achieved in terms of the emergence of new talent.