ISLAMABAD, June 9: The government has constituted a committee to recommend measures for the establishment of the proposed Agriculture Commodities Export Processing Zone (ACEPZ) at TCP Godowns, Pipri, Port Muhammad Bin Qasim.

Official sources told Dawn on Wednesday that the committee was constituted at a meeting chaired by Commerce Minister, Humayun Akhtar Khan. The meeting was attended by representatives of various ministries and stakeholders.

The minister asked the committee to suggest the best possible usage of 600 acre land at TCP Godowns at Pipri. The officials said that the decision for establishment of agriculture processing zone was taken following the meeting of a delegation of rice exporters association of Pakistan led by its former chairman, Abdul Rahim Janoo with Prime Minister Mir Zafarullah Khan Jamali in March 2004.

The officials said that godowns at Pipri were found to be suitable for an export processing zone being closer to Port Qasim and having storage capacity of over 0.6 million tons.

According to the concept paper of the proposed project, a copy of which was made available to Dawn, showed that the TCP godowns area might be declared as ACEPZ to be owned and operated by a corporate entity with government, multinational institutions and the stakeholders as equity partners.

For operation of this zone, a joint stock company (JSC) might be set up with 49 per cent to be contributed as an equity by the government in the shape of godowns and 51 per cent by the private/corporate sector.

The JSC to be headed by a professional qualified CEO and to be responsible to the board of directors comprising representatives of the equity shareholders - government, private and corporate sector.

According to the officials the government has already established industrial export processing zones in Pakistan but there was no export processing zone for agriculture products.