KARACHI, March 29: City Nazim Syed Mustafa Kamal on Wednesday held meetings with the delegations which have come from various countries to attend the Expo-2006 and exchanged views on investment in Karachi and development projects prepared by the city government.
He told them that the government was providing best facilities to investors and had created an environment highly conducive for investment. In this context, he pointed out that development projects involving Rs85 billion, to be provided by different international development and financial institutions over the next three years, were being executed.
These would include construction of an elevated expressway by a Malaysian company between Quaidabad Bridge and Tower at a cost of $224 million, mass transit corridor between Orangi and Cantonment Station with Chinese cooperation costing $550 million and mega projects involving $400 million with the cooperation of the Asian Development Bank.
The nazim held detailed talks with Chairman of the Dubai Islamic Bank (DIB) and UAE’s State Minister for Finance Dr Khalfan Bin Kharbash, Chief Executive of the bank Saad Abdul Razaq, the DIB Group’s Chief Officer in Pakistan Saad Zaman and others. He dilated upon investment opportunities in Karachi in a greater detail and identified the areas of investment. On his invitation, the DIB Group, particularly showed interest in the work on joint ventures in the real estate sector.
Mr Kamal said that the city government owned vast valuable lands on which joint ventures could be undertaken.
He made mention of the ongoing events of World Social Forum and Expo-2006 in the city, and said these were reflective of people’s and investors’ trust in the steps being taken by the federal and provincial governments.
He pointed out that WSF delegates participated in different activities without any fear. “Thousands of foreign guests are at present in the city and fool proof arrangements have been made for their safety and security,” he added.
Dr Khalfan thanked the nazim and said that his group and the government were keen to make investment in Pakistan.—APP
