Sindh Governor Dr Ishrat-ul-Ibad Khan has assured the business community of the continuation of the economic policies being pursued by the present government. He was Speaking at a ceremony held to rename Road 8000 as "S.M.Farooq Road" in Korangi industrial area on Monday evening.
He said that as a result of pursuing the present economic policies, investment climate had improved a lot which attracted foreign direct investment (FDI).
He said the federal Board of Revenue (FBR), which was once known as thieves, had now become businesses-friendly. The governor informed the business community that the government had approved a project of re-building Rs 800 million Jam Saddiq Bridge, which had completed its age. He also said that beside the bridge, a causeway would be constructed at a cost of Rs 200 million.
The Governor announced that the government had decided to change the names of some of the roads, bridges and parks in the city and rename them against the names of those who had done some important work in past.
Taking about recent presidential election, the Governor has criticised the media in general and electronic media in particular, and said that they had created hyper, giving impression that something very big was going to be happened. He said that it was most important that a government completed its tenure and new election process had been initiated.
Dr Ishrat-ul-Ibad advised the business community to get united for the betterment of the country. City Nazim Syed Mustafa Kamal, speaking next, announced establishment of Korangi industrial zone (KIZ), which will be manned by the Chief Engineer of Karachi Water and Sewerage Board (KWSB), officials of land, tax and other department to provide better services and resolve complaints on the site.
He also announced imposition of municipal tax, which would be peanut for the business community, but it was necessary for the maintenance of infrastructure in the area.
He said that the city government had incurred an expenditure of Rs 4.5 billion on infrastructure development in the area and now needed finance to maintain it.
Sindh Minister for Culture and Tourism Rauf Siddiqi suggested that a university would be established in the name of late S.M.Farooq Former President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) S.M.Munir, speaking on the occasion, stressed the need for unity in business community for the betterment of the country. Welcoming the guests, Masood Naqi praised the services of late S.M.Farooq for the people of the country, and said that the road had been named to recognise his services for the people in the country.