• Murad promises all-out efforts to restore old plant or install a new one on public-private partnership on 700 acres of PSM land
• Province, federal govt agree to complete paperwork for setting up 4,800-acre special economic zone

KARACHI: The federal government is ready to allow the Sindh government to revive the old plant of the Pakistan Steel Mills (PSM) or set up a new one on 700 acres of the PSM land as a special economic zone (SEZ) will be established on its remaining over 4,800 acres.

This was decided during a meeting held between Sindh Chief Minister Syed Murad Ali Shah and Federal Industries and Production Minister Rana Tanveer here at the CM House on Tuesday.

Both sides discussed the revival plan of the PSM and establishment of a special economic zone (SEZ) on the remaining land.

The meeting was attended by Sindh Industries Minister Jam Ikarm Dharejo, Chief Secretary Asif Hyder Shah, Federal Industries Secretary Saif Anjum and others.

The CM said the proposed SEZ project was discussed in the cabinet on May 30. He added that his cabinet proposed to the federal government to establish the SEZ on the extra land of the PSM.

CM Shah said his cabinet was of the view that the 700 acres of land earmarked for the PSM plant should be kept intact for its revitalisation or setting up a new steel mill. He said that any additional requirement of land for the purpose should be worked out mutually.

The federal minister informed the CM that Islamabad was ready to allow the provincial government to revive the old steel mill plant or install a new one on its 700 acres.

The CM said he, with the support of the federal government, would make all-out efforts to revive the PSM on the public-private partnership mode so that a national asset could be utilised for employment and economic development.

He said the 4,840 acres of land might be utilised to set up the SEZ for the federal and provincial governments.

Rana Tanveer said that the federal government from its resources would start developing the SEZ to be given to Chinese investors.

CM Shah said the SEZ was located close to the sea, and its infrastructure was in place along with necessary water and gas facilities which would be enough to make the zone one of the best ones in the country.

The provincial and federal governments agreed to complete the paperwork at the earliest so that the zone could be established promptly. Both sides said that the SEZ would generate employment opportunities and contribute to the country’s economy.

The CM said his government was working hard to strengthen the agro-economy by introducing cropping patterns, strengthening and reviving the industrial sector, and providing technical education to youngsters.

In 1973, the Sindh government had granted land to the PSM.

The plan to establish SEZ on PSM land was initially discussed between caretaker commerce minister Gohar Ejaz and caretaker chief minister retired Justice Maqbool Baqar.

The federal government had sought assistance and cooperation from the provincial government for execution of the project assigned to the Chinese authorities under the China-Pakistan Economic Corridor.

A state-of-art industrial park on the PSM land, named as Karachi Industrial Park, was originally approved in 2017 by then prime minister Nawaz Sharif and 1,500 acres of the PSM land was allocated for it.

Sources said that the Chinese industrialists wanted to relocate their industries in different economic zones in Pakistan under the CPEC.

Published in Dawn, July 31st, 2024