KARACHI, July 30: Governor Dr Ishratul Ibad has said that the city may continue to receive threats of (terrorist) attacks, but such things should not adversely affect the investment climate.

"Such activities should not be allowed to discourage us," he said, pointing out that many of those allegedly involved in heinous crimes had been arrested. He said: "Terrorism is a global phenomenon as terrorist attacks are taking place everywhere in the world... we are ready to face it boldly."

Dr Ibad was speaking as co-host at the exhibition, titled My Karachi - The Oasis of Harmony, organized by the Karachi Chamber of Commerce and Industry at Expo Centre here on Friday.

Federal Minister for Privatization Senator Dr Abdul Hafeez Sheikh was the chief guest at the opening ceremony of the three-day event. The governor declared: "Karachi is as safe as any major international city." He said that law-enforcement agencies were already working very diligently to fight terrorism and counter threats.

He said that law and order was still a major concern for the government due to fear of more terrorist acts. He was of the view that Pakistan was being targeted by terrorists for its being the frontline state in the 'war on terrorism'.

"The government is determined to maintain peace in Karachi at any costs," he declared, adding that every possible steps would be taken to combat the menace of terrorism.

The governor called upon businessmen community to keep looking forward, and held out the assurance that all possible help would be extended to the KCCI in restoring the glory of the city and boost its image. He expressed the hope that the event would help project Karachi as a peaceful and investment-friendly city.

"Things had returned to normal before a new wave of terrorism struck the whole country in January this year. However, law-enforcement agencies have tracked most of the terrorists and their agents, many of them have since been picked up," said Dr Ibad.

Regarding traffic and other hazards in the city, the governor pointed out that he had already ordered shifting of illegal bus stands and removal of encroachments in order to ensure a smooth flow of traffic throughout the city. The free and easy movement, he added, would help enhance economic activity.

Dr Ibad observed that the provincial government had also taken serious notice of criminal activities and had planned an effective operation against outlaws in Karachi.

About the SMEDA and SME Bank, the governor remarked that the two institutions had not yet succeeded in achieving the desired goals i.e pushing the SME sector to roll on with enhanced pace and generate more job opportunities.

Dr Ibad said that government had already started work on a plan to revive export processing zones. The vast land allotted for the zones had been occupied by land grabbers, he said, adding that 60 per cent of the lands had since been retrieved by evicting them.

Dr Ibad said that the Sindh government was setting up industrial boards comprising government officials and industrialists to resolve the problems being faced by industrial trading estates.

Speaking on the occasion Dr Hafeez Sheikh said that the government, through privatization, wanted to restore nationalized assets to private sector. He said that the government had earned Rs36 billion over the past three years by privatizing public sector organizations.

Sindh Minister for Commerce Adil Siddiqui told the audience that the government would take all possible measures to protect investors and help them accelerate business activities in the city.

Siraj Kasim Teli, President of the KCCI, said that recent terrorist acts were badly exploited certain elements who had painted a very gloomy and turbulent picture of the situation in Karachi which had left a depressing effect on investment climate, particularly in inducing foreign investment. -APP/PPI