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Memorandum of understandings worth over $2 billion signed for Karachi

London, July 11, 2012 (PPI-OT): A high-powered Pakistani delegation led by Governor Sindh Dr Ishrat Ul Ebad Khan has signed 6 memorandum of understandings (MoUs) worth more than $2 billion with business groups and universities in Scotland.

Pakistani delegation led by Governor Sindh Dr Ishrat Ul Ebad Khan and comprised of provincial and federal ministers Babar Khan Ghauri, Pir Mazhar-ul-Haq, Raza Haroon, Faisal Subzwari, Saghir Ahmed, Adil Siddiqui, Karachi administrator Muhammad Hussain Sayyid, and Commissioner Roshan Sheikh signed the MoUs on Tuesday afternoon.

Four contracts were signed between Scottish business groups, Government and Port Qasim Authority, Karachi Port Trust, Karachi Metropolitan Corporation and Karachi Water and Sewerage Board, ranging from 100 million gallons per day desalination plant and solid waste management etc. These contracts may have capital investment of around $ 2 billion and were unveiled on Tuesday after Pakistani delegation from Sindh held meetings with Scottish officials over two days.

Two MoUs were exchanged between the Engineering University of Strathclyde, Glasgow, and NED Engineering University Karachi and Mehran Engineering University, Jamshoro. These will enable the universities in faculties exchange and research programmes.

It is expected that desalination plant will generate revenue of billions of dollars through over its lifetime. The Pakistani delegation was busy meeting officials in Scotland yesterday to inform the potential investors and companies of the opportunities that exist in Pakistan.

Sindh Governor Dr Ishrat Ul Ebad Khan hailed the signing of new contracts and hoped that the people of Karachi will greatly benefit from these deals. “These are breakthrough achievements for us. To fetch business to Pakistan in current circumstances is a difficult task but we have been able to convince the foreign investors that Pakistan is a land of business opportunities.”

There is no better place to start business than the port city of Karachi which is Pakistan’s main gateway. We are ready to facilitate businesses in every possible way.

The delegation was keen to learn more about the growth of Scotland’s renewable energy industry and see what can be done to address the crisis of energy in Pakistan. Since Karachi is facing acute shortage of water in the tune of more than 500 million gallons a day, the provision of 100 million gallons will bring a great relief to the lives of millions of Karachiites.

For more information, contact:
Sindh Governor House
Syed Wajahat Ali
Press Secretary to Governor
Tel: 99201217, 99201201-3
Email: press_secretary@governorsindh.gov.pk

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