Governor Sindh Dr Ishratul Ibad Khan on Monday inaugurated the new 220kV power transformer manufacturing facility of Siemens Pakistan at its industrial complex in Site area of the metropolis. Addressing the inauguration ceremony, Dr Ibad urged the Siemens Pakistan to continue its investment in the city and other parts of the province.
He added that Karachi city had all basic facilities including improved civic infrastructure for the foreign investors to set up their businesses here. He said that Karachi was falling in the index of world's developed cities and the government's investment friendly policies had brought about huge foreign investment here, adding that big opportunities were available for investors in various sectors across the Sindh province.
"Siemens has been here since the inception of Pakistan and thus knows this country and the new factory establishment with substantial investment reveals that city has conducive and investment friendly environment," he elaborated.
Ibad said that completion of these projects represented direct investment, which resulted in generation of employment and earning of huge foreign exchange for the country through export of these transformers.
He called upon business community to come forward for making investments in the city. He maintained that only through establishment of businesses in the country, the vicious circle of unemployment could be eradicated.
The governor linked crimes and lawlessness with unemployment. Dr Klaus Wuchere - member of the corporate executive board Siemens, said that factory represented a substantial investment by Siemens Pakistan and observed that Pakistan was on the track of fast-paced development.
He pointed out that Siemens had long been trusted partner in the development and progress of Pakistan. "This is underscored today by the fact that we are celebrating 25 years of power transformer manufacturing by Siemens Pakistan," he added. Wuchere said that the establishment of this new plant was the manifestation of technology transfer for local production. Siemens has always been a major exporter of country's engineering goods, he said.
Sohail Wajahat H. Siddiqui, Managing Director and CEO Siemens Pakistan in his welcome address reiterated the company's commitment to continue taking part in country's development. On the occasion, Siemens Pakistan's officials were also present. Later, the governor Sindh distributed certificates amongst the Siemens Pakistan technical staff for their contribution in its development.