Prime Minister Shaukat Aziz said here on Saturday that Pakistan will turn into the manufacturing base of the region during the next 5-10 years. It will serve as manufacturing base for Africa, Central Asia and Middle East, he said.
While performing the ground-breaking ceremony of Oil Extraction Plant Project at Port Qasim of IFFCO Group at a ceremony held at the Governor House. He said Pakistan will achieve the position of being manufacturing base because of cheaper labour and compatible cost of doing business.
The government conducted a study which revealed that cost of doing business in Pakistan was lesser than many nearer and far-off countries, he added. The prime minister said it is for this reason that IFFCO has estimated to have 100 million dollars export of its products in the very first year.
He said that MAZA is another company of UAE which has decided to set up two plants here where it would manufacture its products and export the same. Shaukat Aziz pointed out that availability of raw material here is a big facility for the manufacturers while improving logistic means would help cut down the cost of doing business. He said when there will be lower cost of doing business, more factories will come up.
The prime minister asked the Port Qasim Authority (PQA) to keep their tariff structure lesser than good ports because already it will have to face competition in the presence of Karachi and Gwadar and other ports in the region.
Shaukat Aziz declared that future of Pakistan is bright although it is faced with many challenges, saying those who know that country's future is bright, should work with dedication and honesty and expand their business. He said that Pakistan's economy has witnessed a great transformation and not a single day passes when one step forward is not taken towards economic progress and investment because of the potential now available.
In this regard, he particularly referred to $150 million investment being made by IFFCO. Congratulating the Port Qasim Authority for this achievement, the prime minister pointed out that establishment of a unit open doors for jobs and leads to increased productions which results in prosperity.
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