Sindh govt working to develop two special economic zones in Karachi: minister

• Nasir Shah says special economic zones being developed to help Chinese investors set up industries
• Notes Pakistan is preferred destination amid emerging trade opportunities
• Discloses 3.5 cents per unit power tariff approved for planned solar park

KARACHI: The Sindh government is working to develop two special economic zones (SEZs) in Karachi to facilitate the setting up of various industries by Chinese investors in collaboration with local businessmen.

This was disclosed by Sindh Minister for Energy, Planning and Development Syed Nasir Hussain Shah while addressing an event at Expo Centre on Saturday.

The minister said: “Multiple industries are being established in Karachi, the commercial hub of the country, mainly due to shifts in global trade policies for China. We believe that Pakistani businessmen are eager to collaborate with their Chinese counterparts to attract investment in various sectors and enhance exports under the ‘Made-in-Pakistan’ brand.”

Explaining the challenges and opportunities, he said: “Several countries plan to end direct imports from China. But Chinese products could still be indirectly imported via other countries, particularly from Pakistan, which will be the preferred destination for importers and exporters under the emerging trade opportunities.”

He reiterated that the Sindh government was actively working with different industrial zones in Karachi to develop their infrastructure in line with specific plans and requirements.

“These zones have been empowered with financial and administrative autonomy to establish themselves sustainably,” he added.

Mr Shah also referred to the “big achievement” of the Sindh government in power sector that would bring relief to the masses and offer huge benefit to industrialists.

“The Sindh government has achieved a significant milestone in power generation.

“A remarkably low tariff of 3.5 cents per unit has been approved for the planned solar park, which is set to provide affordable electricity to Karachi and other parts of Sindh in different phases,” the minister added.

Mohammad Uzair Nizam of Ecommerce Gateway, the organiser of Beauty, Fitness, and Consumer Health International Expo, remarked that the participation of foreign and local delegates and businessmen in the event showcased Pakistan’s positive image on the global stage, attracting traders, investors, and tourists to the country.

“The business and economic activities are evolving from traditional sectors to emerging industries,” he said.

“More than 2,000 renowned brands and 350 companies from seven countries, including the US, China, South Korea, Iran, Turkiye and Indonesia, are participating in this event. “The expo is expected to generate US$20 million revenue through service exports, business-to-business deals, sponsorships and tourism-related activities.”

Published in Dawn, December 15th, 2024