KARACHI: The Sindh government is preparing a new long-term industrial policy to attract the new investors and promote the industrialisation in the province.

Provincial Industries Minister Ikramullah Khan Dharejo told journalists here on Wednesday that a new industrial policy for the promotion of industry in the Sindh is under preparation and renowned economist Qaiser Bengali is working on it.

“New policy is likely to be announced in the next three to six months,” he added.

He refuted the misconception that industries are not being set up in the province and said that the Sindh government is working on a number of industrial projects to facilitate the investors and create new job opportunities. The Sindh government has decided to set up a special industrial zone in each district. Recently a Special Economic Zone has been finalised at Port Qasim on land of Pakistan Steel Mills (PSM).

“A state of art industrial zone on 2,000 acres of land is being established on Hub River Road under a public-private partnership. In addition, work has already commenced on Phase 3 of the Nooriabad Industrial Zone, covering 1,300 acres land,” Dharejo informed.

In addition the federal government with the consultation of the Sindh government has decided to set up a Special Economic Zone (SEZ) for Chine’s investors in Port Qasim Karachi.

The minister informed that Sindh and federal government have already finalised the modalities for the establishment of a SEZ on the 4,800 acre land of Pakistan Steel Mills (PSM) for industrial growth in the country and create the new employment opportunities in the province. During the recent visit of the Federal Minister for Industries and Production Rana Tanveer, it was decided that development work on SEZ will be started very soon.

Industrial land in the SEZ will be given to the Chinese at special rates to attract foreign direct investment in the country; he said and added that the Chinese are ready to set up industry in the newly established SEZ.

Copyright Business Recorder, 2024