KARACHI: Uplift work on the crucial China-Pak Economic Corridor (CPEC) project in Sindh, Dhabeji Special Economic Zone (SEZ) begins today.
As per details, Sindh Minister for Information, Transport and Mass Transit Sharjeel Inam Memon, along with Special Assistant to the Sindh Chief Minister for Investment and Public-Private Partnership Syed Qasim Naveed Qamar, addressed a joint press conference here Friday and announced that the development work of the grand project of CPEC at the Dhabeji Special Economic Zone site will commence on Saturday at 12 noon.
Pakistan Peoples Party (PPP) Chairman and Foreign Minister Bilawal Bhutto Zardari along with Sindh Chief Minister Syed Murad Ali Shah and members of the Sindh Cabinet will inaugurate the project.
Sharjeel Inam Memon said that any investor who establishes their business within this zone will be eligible for a 10-year tax exemption, besides the import of machinery for the business purposes will be duty-free.
He emphasized that the Dhabeji Special Economic Zone holds immense potential for generating employment opportunities for millions of youth. This zone is expected to create both direct and indirect employment prospects, providing a platform for the skilled and talented individuals of the nation.
With its golden investment opportunities, the zone aims to attract investors from around the globe. Its scale and scope promise to be a magnet for international investment, contributing to the growth and prosperity of the region.
He stated that the Chief Minister of Sindh is actively developing programs to identify investment opportunities within the province. The objective is to showcase the various sectors to the potential investors and businessmen, encouraging them to invest in them.
However, Syed Qasim Naveed Qamar emphasized the significance of promoting investment opportunities in the country for economic development. He said that Pakistan has yet to witness an opportunity as remarkable as the Dhabeji Zone— a zone brimming with countless potential and opportunities.
He explained that this is a CPEC project which shows the China’s recognition of this area as an ideal location for the relocation of neighbouring industries. An essential aspect of the Dhabeji zone is its commitment to being environment friendly; there would be alternative energy sources that are both cost-effective and accessible.
He highlighted that this zone boasts comprehensive management of gas and water supply, ensuring that the necessary resources are readily available. He said that this zone will significantly impact the economic trajectory of Pakistan, aiming to transform it into the most prosperous and successful economic zone in the country.
He mentioned that the Dhabeji zone is strategically located along a crucial geographical route and emphasized its significant role in the country’s economy. In its initial phase, the zone aims to create approximately 150,000 employment opportunities, contributing to job growth and socioeconomic development, recognizing the need for skilled technical staff. He said plans are under way to establish a technical institute within the zone to ensure supply of a qualified workforce.
Chief Executive Officer of Sindh Economic Zone Management Company Abdul Azeem Uqaili, Dhabeji Zone Developer Mahabat Khan, and Head of Sindh Public Private Partnership Unit Asad Zamin also addressed the gathering.
During a media briefing, Sharjeel Inam Memon responded to a question by stating that investors are already in contact and showing interest in establishing their presence in the Dhabeji zone. An investment of approximately 5 billion dollars is expected, indicating the substantial economic potential of the zone.
In response to another question, he mentioned that the Dhabeji zone will accommodate industries of various sizes, ranging from small-scale to medium and large-scale enterprises. Bookings for the zone are set to commence in two months, providing opportunities for businesses to secure their presence; the development work is projected to be completed within 18 months.
Copyright Business Recorder, 2023
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