Sindh Chief Minister Syed Murad Ali Shah has said that he will never allow the federal government to wind up Textile City project from Port Qasim. "This project is the most important in terms of employment and economy of Sindh," he said presiding over a meeting on Pakistan Textile City Limited (PTCL) at the CM House, here on Thursday. Sindh Industries Minister Manzoor Wassan, Chief Secretary Rizwan Memon, Principal Secretary to CM Naveed Kamran Baloch, Secretary Industries Abdul Raheem Soomro and other officials attended the meeting.
Briefing the chief minister, provincial minister Manzoor Wassan said that Sindh with its 16% share is the (second) largest shareholder in the company but it has only one director on the board which is also an injustice. "Sindh government provided land measuring 1250 acres to Port Qasim Authority in lieu of allotment of land to the textile city project. The PQA issued allotment letters dated August 27, 2006 to the project at the cost of rupees one million per acre," he said.
Murad Shah made it clear that the project's land belongs to Sindh government therefore Port Qasim Authority cannot retain it if the federal government scraps the textile city project. He directed Industries minister to make necessary arrangements to take over the land in case the federal government takes any drastic measure [winding up of the project] and get ready to file a case in the court for land and other issues.
Wassan said that there was Rs 3 billion liability against the Pakistan Textile City Limited that has failed to clear the liabilities of National Bank loan and mark up, PQA ground rent, retention money of the builders and professional fees of NESPAK.
It may be noted that Sindh has paid its Rs 200 million share for development of the Textile City whereas federal government has 40% share, Port Qasim and Pakistan Industrial Corporation have 8% share, respectively, and 4% go to each of the seven other companies.