ISLAMABAD: The Board of Investment (BoI) pitched three infrastructure development projects at the ‘SDG Investment Fair’ on Wednesday for international investors which will have an impact on sustainable cities and communities and post-Covid healthcare provision.

Presenting the projects to the United Nations Development Programme (UNDP) at the fair, BoI secretary Fareena Mazhar said that the projects would pave the way for Pakistan to become a success story in terms of progress on the Sustainable Development Goals (SDGs). These projects will serve as a window for exchange of ideas, refinement of investment proposals and better structuring of projects – all with an objective of increasing investment agreements in developing countries, she said.

The three projects include the first two phases of Sialkot-Kharian-Rawalpindi Motorway project; and manufacturing of medical equipment. The projects specifically focus on SDGs that relate to decent work and economic growth, industry, innovation and infrastructure and sustainable cities and communities.

UN body holds investment fair

The outcomes of these projects will be integrating industrial cities like Sialkot, Gujrat and Wazirabad with high-speed connectivity. Moreover, it will also reduce migration pressure to large cities while creating thousands of jobs allied with 40 industries associated with the construction of road.

The projects have been sponsored by the National Highway Authority, the National University of Science and Technology (Nust) and the ministry of science and technology.

Secretary Mazhar had presented nine projects from all sectors at the Investment Fair held in April this year, while this time the shovel ready three projects were offered to the international investors as per UN standards.

She said the Sialkot-Kharian motorway project would be extended up to Rawalpindi in the next phase, which will reduce the cost of doing business and increase commercial transport connectivity.

The BoI secretary said that important toll road project costing $290 million was designed with a total length of 69km connecting Pakistan’s largest SME (small and medium enterprise) industrial cities and this strategic project would play a major role in the country’s post-Covid economic recovery.

The second phase of this project is designed with a total length of 115km. The basic design and commercial feasibility study is in progress and investment is being sought through bidding.

The project will be an extension of four-lane Sialkot-Kharian Motorway which is under procurement. The construction of Kharian-Rawa­lpindi section would complete the Lahore-Sialkot-Kharian-Rawalpindi Motorway network. It will be a major initiative to connect SME hubs for job creation and productivity enhancement, she explained. The project will be an extension of 4-lane Lahore-Sialkot Motorway which is operational for traffic.

About the third project, the BoI secretary said that it would specifically focus on three SDGs which are related to good health and well-being; industry, innovation and infrastructure; and will reduce inequalities. She stressed that completion of this project will ensure availability of cost-effective healthcare services in Pakistan, lead to a reduction in import bill and create job opportunities in the healthcare sector.

The project anticipates creation of a medical devices development centre, a public sector company established by Nust to produce low-cost treatment solution for the patients suffering from cardiac diseases. The company is looking to expand and scale up its operations and seeking international investment. There is a business opportunity in producing ventilators, syringe pumps, dialysis machines, patient monitors, cathedrals and immediate expansion of three products scaling up to 10 products in the next two years.

The SDG Investment Fair is held twice a year organised by the United Nations Department of Economic and Social Affairs (UN-Desa).

Published in Dawn, September 30th, 2021