KARACHI, March 22: Sindh Chief Minister Dr Arbab Ghulam Rahim has said that a coordinated programme has been chalked out for economic progress of Sindh whereby foreign investors will come and set up units here. He was speaking at a ceremony held for issuing allotment orders to foreign investors for setting up schools and industrial units.

He said the land has been allotted under new Land Grant Policy which would result in creation of job opportunities.

Dr Arbab said in the light of directives of the President and the Prime Minister, the Sindh government had chalked out a comprehensive plan for foreign investment in Sindh and the same is under implementation for which an investment cell is working at the Chief Minister’s House.

He said the three companies which have been given allotment orders have been bound down for providing jobs to local people.

He said L&A (Pvt) Ltd has been allotted five acres for Shofda International School on 99 years lease on 50 per cent concessional rate which comes to Rs 5 million per acre. The company will invest 150 million dollars.

Beerat and Hosin has been allotted six acres on same terms and condition for Rugby School and will make an investment of 100 million dollars in Sindh.

The chief minister said these companies belong to France and UK and as per terms and conditions will provide free uniform, boarding and books to 10 per cent poor students.

He further informed that M/s Metro will invest 500 million dollars for Cash and Carry stores. It is a German company involved in multi-million consumers goods business. It has been allotted 11 acres for industrial purposes at 75 per cent concessional rate. It will provide jobs to about 500 persons besides training farmers in tin-packing of fruits and their preservation.

He hoped that with this 750 million dollar investment, Sindh can be steered on the path of progress and prosperity.

Talking to the media on the occasion, Dr Arbab pointed out that in other countries, free land is given for investment while in the Punjab it is being allotted at a cheaper rate.

He said that with a shift in the policy, it has been decided to give land without auction on 99-year lease and decision to grant lease will be taken by a committee and not by the chief minister.

To a question, Dr Arbab informed that 22 acres has been allotted to three investment companies. No one is being favoured but government is working for development and elimination of unemployment.

He told a questioner that if an allottee does not start work on allotted land within six months, the deposited amount will be confiscated.

He said that policies being given by President and Prime Minister are being executed while past governments did not pay attention on these projects.

The Chief Minister informed that a party convention will be held in Hyderabad on March 30 in connection with the PML’s centenary celebrations which are starting from March 23 while a labour convention will be held on April 1.—APP