14 February 2004	Saturday	22 Zilhaj 1424

KARACHI, Feb 13: City Nazim Naimatullah Khan has said the city government is interested to offer mega projects on built, operate and transfer (BOT) basis to foreign investors and intend to calling international tenders for the purpose.

Addressing the industrialists at the SITE Association Office, the City Nazim said the foreign investors had started looking towards Karachi as a viable place for investment due to improved law and order condition in city. He, however, criticized foreign media for projecting Pakistan adversely, says a press release of the Site Association.

Mr Khan said President Pervez Musharraf allocated huge funds for the development of the city. The major projects had been initiated and the federal government had provided funds.

On demand of the Site Association seeking share from the Karachi package, the Nazim said that he placed the Site area as stakeholders. As regards other four industrial areas, he said their position is different from the Site area.

"They have no source of income, the roads and sewerages are in dilapidated condition and they entirely depend on the city government or corporations for the development of their infrastructure."

The City Nazim was responding to an issue raised by Site chairman Mohammad Nisar Sheikhani that an amount of Rs2.5 billion has been allocated and is being released from the Export Development Fund for the development of infrastructure of four industrial areas - Korangi, Landhi, F.B. Area and North Karachi, ignoring the Site area.

The Site chief said in the Rs29 billion development package announced by the president, the Site industrial area had been totally ignored. He said that infrastructure of the Site area was in worse condition, and in order to develop it funds could be provided from the Rs29 billion Karachi package.

The City Nazim said that if funds of the package were increased the SITE area would get its due share. He said the law and order situation in the city was better for investment.

Nisar Sheikhani said that Rs10 million property tax, Rs1m professional tax, Rs1m motor vehicle tax and Rs1.02m trade licence fee were being collected from the Site area, but no development works were carried out in return.