KARACHI, April 20: A high-powered mission from Singapore, led by Dr Balaji Sadasivan, minister of state for health and transport, has shown interest in investment in industrial and trade sectors for strengthening friendly relations with Pakistan.
The mission, which was here on a two-day visit to the metropolis, on Tuesday held a meeting with senior minister Syed Sardar Ahmed and Sindh chief secretary Dr Mutawakil Kazi to exchange views regarding facilities being made available to entrepreneurs and opportunities of investment in Karachi and other parts of the province.
Briefing the members of the mission about investment opportunities in Sindh, Syed Sardar Ahmed said the government was taking due care to create an investment-friendly atmosphere in Karachi and other parts of the province.
Regarding propaganda by the vested interest on law and order situation in Karachi, he said that Karachi is a city of over 15 million and recurrence of crimes here and there appeared minimal, if the crime rate is compared with other large cities of the same magnitude.
The minister gave an assurance to the mission that the government would extend full cooperation to them for facilitating investment in development projects.
Recalling the investment opportunities, chief secretary Dr Kazi said Karachi in terms of population was the fifth largest city in the world which had grown horizontally without planning. However, the government was now implementing different key projects, like Lyari Expressway, Northren Bypass.
Moreover, a network of roads is being laid and flyovers and bridges are being built in the city to improve infrastructure facilities and improve investment climate for entrepreneurs.
Besides, he said, the government is also working on proposals for the next budget to provide more exemptions in taxes to investors. The coal, granite and other minerals discovered in Sindh were also being exploited, use of technology was being enhanced and with the assistance of Chinese and German experts, 800 mw coal-fired power project was being executed in Thar where coal reserves were enough to meet requirement for next two to three centuries.
Dr Kazi said over 12 international firms, equipped with information technology, had shown interest in investment in Karachi where largest population of middle class lives. He said that the financial sector was rapidly growing by 10 to 15 per cent.
Regarding other projects being executed with billions of rupees in Sindh, he said these include a water recycling plant, improvement of irrigation system, which is the largest system in the world, Right Bank Outfall Drain project for rehabilitation of land and to ensure a clean sea environment which would help promote agriculture and fisheries.
Likewise, the chief secretary said that with the assistance of Rs 12 billion grant from the World Bank, a project of converting the under-ground salinity water into sweet-water for using its use in agriculture was also being worked out.
