KARACHI, Dec 26: China is keen to make sizeable investment in the coastal areas of Balochistan with a focus on setting up of fisheries and related industries in Pasni and Gwadar.

This was stated by the chairman, Export Processing Zones Authority (EPZA), Lt Col (Retd) Syed Akbar Husain during a briefing given by him on a visit of federal minister for industries and Production Liaquat Ali Khan Jatoi to the EPZA on Wednesday.

He informed the minister that a delegation comprising Chinese consul general Li Jianzhi, vice consul Ms Jin Jun and vice consul economic and commercial office Mr Yong along with Mr Wang Cheng of Shanghai Fisheries General Corp recently visited Pasni and Gwadar to explore investment possibilities in the coastal areas of Balochistan.

The chairman, EPZA, also said that the Chinese delegation, besides other government agencies, also met the officials of fisheries department.

He informed the minister that a Chinese company had indicated of making a sizeable investment in the field of fisheries and fisheries related industries in Pasni for which they would submit a detailed proposal to the government of Pakistan.

He said Saindak EPZ had taken off with speedy progress of making exports worth $7.5 million within a short period of three months, which reflects the export of consignment of 3000 tons of blister copper. Presently, some 994 locals and 262 Chinese are working on Saindak project.

The chairman, EPZA, said that much interest has been generated for operating metal related projects under EPZ system and procedures. In this connection a delegation from Tethyan Copper Company, Australia (TCCA), which has a subsidiary under the name of Tethyan Copper Company Pakistan had visited EPZA to discuss Reko Diq Copper Project in Chagai district of Balochistan.

Liaquat Ali Khan Jatoi was also informed about development in Risalpur and Sialkot EPZs. The EPZA chief said that Risalpur EPZ had also come out of stagnation and started exporting consumers goods to Afghanistan in the current fiscal year.

The current year has proved an year of achievements for Export Processing Zones Authority with a record 30 per cent growth in exports of Karachi Export Processing Zone with two more zones at Saindak and Risalpur coming into production.

The minister was also briefed about the implementation status of EPZA’s share in the development package of Karachi .

He was informed about the development of additional 100 acres of land as KEPZ Phase II as there was no plot left in phase I for new investors. Almost 50 per cent of the area being developed under phase II has already been allocated to new investors.

In the interest of new investors for locating their industries in KEPZ the minister was requested that KEPZ may be expanded to 1,000 acres as phase III on National Highway in the vicinity of Steel Town.

The minister applauded the performance of EPZA during the last three years. He was appreciative of the fact that during the period exports from KEPZ were to the tune of $348m as compared to export of $721m made during 17 years from 1983 to 2000.

Mr Jatoi assured the EPZA management that he would continue patronizing the marketing plans of the Authority. The minister announced the restoration of five day weekly working days for EPZA instead of six days.