Except a few irritants and small impediments, the
local and foreign investment jumped to a record level during last two
years which expected to gain new heights in view of the strongly
developing macro and micro economic indicators especially in
The demand for expansion in all industrial zones and
development of new industrial zone in Sindh and Balochistan region was
on top of the agenda in the third meeting of Investment Facilitation
Board recently held at the Governor House in Karachi. Director General
Board of Investment (BoI) Sindh-Balochistan region, this was disclosed
by Akhlaq Ahmed Malik to PAGE in an exclusive interview.
This indicates the strong appetite for investment in
this region despite the fact the infrastructure was not in a ideal state
of affairs in this region.
He further said that due to increased foreign
investments, we are receiving various nature of inquiries from all over
the world everyday.
In the face of record investment by the local
investors, we had to constitute a high powered Investment Facilitation
Board (IFB) which had its third meeting in Governor House Sindh on
August 5, 2004 under the chairman of Brig. Zamin. The meeting was
attended by top ranking officers of all utilities and local government.
The Board decided to earmark more land in Nooriabad Industrial Estate.
About 90 Km from Karachi, by 5000 acres, and extension SITE areas of
Hyderabad and Kotri by maximum possible scale.
"The demand for industrial plots in SITE
industrial area Karachi has gone up during last two years and now it is
on top of the demand" said an industrialist of the SITE industrial
area. The industrial plots in SITE Karachi are now like a gold mine due
to prevailing trend of investment pouring in that particular area.
The Board in its latest meeting discussed the
following points And issued orders for implementation:
Rationalization of electricity tariff by KESC to match electricity rates
Rationalization of exorbitant meter shifting rates by the KESC,
the trend of average billing by KESC.
adequate water supply to Industrial Zones of Karachi as per sanctioned
of gas connection policy to industrial undertaking,
Law and Order situation.
regularization of disputed plots and transfer of possession of
industrial plots in North Karachi.
Development work alongside Super Highway should be expedited.
9)- Setting up
of more telephone exchanges in all industrial zones of Sindh Balochistan
of sewerage system in Korangi Industrial area,
Installation of street lights.
improvement of water supply in Korangi Industrial Area, immediate
suspension of Civil Defense inspections in all Industrial Areas.
Constitution of an IFB subcommittee to meet fortnightly to review
infrastructure facilities, and procedures with regard to ensure speedy
new connections of power, phone, gas, and to sort out cases of excess
billing, resolve complaints of frequent power shutdowns, and delays in
of electricity and telephone connections in North Western Industrial
Zone at PQA Site-B1.
Rationalization and abolition of exorbitant municipal charges by the KPT
on behalf of KW&SB.
framework for gas connections to small and medium enterprises.
of un-justified collection of market fee.
of Octroi cess exemption notification etc.
More than 20 other pending issues of the same nature
were also discussed and instructions were issued accordingly.
The frequent arrivals of trade and investment
delegations to Pakistan also indicate that Pakistan remained focal point
for foreign investment in this region.
According to break up about visits by foreign trade
delegation, an eight-member delegation from China, headed by Vice
Minister of China Mr. Wang TingKai, had a five -day visit on March, 2004
to Explore trade and and joint ventures in the textile sector.
The president of Vietnam accompanied by a 42-member
trade delegation visited in March 2004 to promote bilateral trade and
investment between Pakistan and Vietnam. As a result of this visit,
Pak-Vietnam Business Counsel was formed. Another 13-member delegation
from Korea also visited Karachi during the same month to promote trade
A 12-member delegation from Canada visited during
February 2004 to explore and promote business opportunities in Pakistan.
From France a four-member delegation arrived in January this year on a
fact finding mission under the leadership of ICC chairman Mr. Jean Rene
In all, over 60 trade and investment delegations from
different countries including USA, UK, Malaysia, South Africa, UAE,
Germany, Japan, China, South Korea, Australia, Singapore, Saudi Arabia,
Sri Lanka, Iran, Mauritius, Bahrain, Turkey arrived in Pakistan.
The USA was the country from where more than 20 high
powered delegations visited Pakistan for promoting trade ties and
explore investment opportunities in our country. By the end of July
2004, there was $7593.1 million foreign investment from 30 different
countries of the world. USA $2891.5 million, United Kingdom $1563.4
million, Japan $384.2 million, UAE $461.8 million, Germany $241.3
million, Korea, $197.2 million, Saudi Arabia $180.5 million, France
$83.3 million, Netherlands $95.7 million, Hong Kong $84.7 million, Italy
$15.6 million, Canada $15.6 million and other countries invested $1378.3
The investment areas which were the focus for
investment were Oil exploration, mining and quarrying, power, textile,
finance and business, IT and transport, chemical pharmaceutical and
fertilizer, food and beverages and tobacco which were on top on the list
of the foreign investment.