ISLAMABAD, Sept 8: Prime Minister Shaukat Aziz on Saturday approved a work plan for establishment of two large shipyards on joint venture basis with leading foreign shipyards of the world.

The decision was taken in the first meeting of the board on development of shipbuilding industry in Pakistan, headed by the prime minister.

The MD of Karachi Shipyard and Engineering works briefed the meeting about salient features of the proposed shipyards.

He said the two shipyards, to be built at Gwadar and Port Qasim, cover approximately an area of 500 acres and each would also include two dry docks of approximately 600,000 dwt.

Highlighting the proposed work plan for 2007-08, he said the plan envisages physical demarcation of sites, process of land transfer, feasibility study of sites for shipyards, selection of a business house and financial advisors, short-listing of potential leading shipyards for joint ventures, short-listing of potential investors, training plan for work-force and ancillary support industry.

The prime minister said the establishment of two new shipyards with bigger docks would ensure accommodation of larger vessels and usher in an era of economic activities, creating new jobs and improving standard of living of the people.

The premier also approved establishment of an executive committee to ensure implementation of decisions taken by the policy board.

He also approved setting up a separate cell of professionals under the KSEW MD to undertake approved tasks and handle the work of development of shipbuilding industry in Pakistan.

He emphasised the need for development of human resource and asked the Karachi Shipyard to prepare a highly skilled workforce. The government, he said, is simultaneously taking steps to facilitate and promote marine equipment manufacturing industries and other support industries.

The prime minister is the chairman of the policy board, while other members of the board include governors of Sindh and Balochistan, ministers for port and shipping, defence production, privatisation, advisor to the PM on finance, deputy chairman of planning commission, chief of naval staff, secretary of port and MD of KSEW.