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Foundation Stone of Dazzle Park Project Laid by Senior Federal Minister for Commerce

Karachi, March 12, 2013 (PPI-OT): The Dazzle Park project has been formally launched with foundation stone foundation laying ceremony performed by Makhdoom Amin Fahim, Senior Federal Minister for Commerce on Sunday on Dazzle Park site located at a prime location close to Jinnah International Airport.

Speaking on the occasion, the federal Minister highlighted Government‘s major thrust on trade and commerce during 5 years tenure particularly successful presentation of respective Trade policies 2009-12 and 2012-15.

He attributed sustained development, real growth in GDP, macroeconomic stability and significant improvement in exports due to Government effective economic policies and mentioned other achievement of meaningful conclusion of bilateral trade negotiations with trade blocks and potential trade partners, as a result, Pakistan signed SAFTA and FTAs with China, Sri lanka and Malaysia and also concluded many regional tariff concessionary agreements. The Minister also highly applauded the initiatives and efforts of Trade Development Authority of Pakistan for taking expedient actions for establishing Dazzle Park.

Also present on the foundation stone ceremony were Abid Javed Akbar, Chief Executive and Abdul Kabir Kazi, Secretary of TDAP, Fazal Qadir Sheerani, President FPCCI, Haroon Agar President KCCI, foreign diplomats, high Government officials and president Gems merchants and jewelry Association and a very large number of jewelry exporters.

The Federal Minister also announced to regularize the services of contract employees in TDAP. On completion of Government 5 year’s term, Performance Awards were conferred on heads of corporations under Ministry of Commerce. Federal Minister also congratulated the audience on approval of TDAP Act by The President of Pakistan.

Mr. Abid Javed Akbar, Chief Executive of TDAP briefed the gathering that the Dazzle Park has its strength on four pillars of PRIME LOCATION, PRIME ADVANTAGE, PRIME FACILITES AND Excellent INFRASTRUCTURE. He explained that being situated in Karachi which is the biggest commercial and industrial center of Pakistan, its connectivity with the industrial and social infrastructure would be a big plus. Its location adjacent to Airport would ensure that import and export logistics and transportation cost are at minimal. An integrated e Supply Chain would be established from warehousing of gems till logistics, Finance, Banking, Consultancy, Insurance and Trainings. Business prospects would be open for upstream, midstream and downstream industries.

Federal Minister for Commerce and e Chief Executive of TDAP specially acknowledged and appreciated the hard work and relentless efforts put in by Ms. Shahida Qaiser, Director (Engineering and investment) of TDAP for liaising between TDAP, Civil Aviation Authority and other Government functionaries in removing irritants and speeding up related activities. She was also honored with Performance Award by the Federal Minister.

Mr Abdul Kabir Kazi , Secretary’ TDAP threw light on gems and jewelry potentials of the country and told that the dazzle Park is being set up to exploit the potential and worth of Gems and Jewelry sector of Pakistan.

The Pakistani precious/semi-precious stones are known worldwide due to unique quality /exotic colours. Abundant availability of fine gems and jewelry along with the centuries old rich heritage of cutting, engraving, and polishing of these stones, offers a unique comparative advantage to the country for processing and finishing of the highest value added hand crafted jewelry.

It was also mentioned that United States, the largest consumer of gems and jewelry has offered tariff concessions to gems and jewelry import under US GSP plus program which need to be utilized.

The main goals of the Dazzle park project were highlighted as under;

1) To process precious and semi-precious stones and enables export of these to internationally certified standards in either cut or polished form or studded in jewelry and gold jewelry making.

2) Provision of infrastructure for gems cutting, polishing, jewelry manufacturing and export.

3) Development of local industrial base with backward linkages and through demonstration effects.

4) Development and manufacturing of exportable gems and jewelry products.

5) Promote use and adoption of modern technology and skills in gem cutting and polishing

6) Enhance industry capacity to perform large export orders by institutionalizing collaborative/cooperative way of working.

7) Creating synergies in the value chain through clustering effect and provision of common facilities.

TDAP management is hopeful to complete the infrastructure with 2 years’ time. But the start of industrial activities could be much earlier. A Gem Tower is proposed to be developed to facilitate immediate start of activities by the investors without waiting long time for constructing their own units; this would also shrug off initial capital investment burden.

The President FPCCI, President KCCI and President All Pakistan gems merchant and jewelry exporters also spoke on the occasion and highly complemented the efforts of TDAP and Ministry of Commerce for promoting gems and jewelry sector in the country.

For more information, contact:
Trade Development Authority of Pakistan
5th Floor, Block A, Finance and Trade Centre, Shahrah-e-Faisal,
Karachi 75200
PABX: 92-21- 9206487-90
UAN: 92-21-111-444-111
Email: tdap@tdap.gov.pk
Website: www.tdap.gov.pk

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