Karachi: Pakistan is a country of tremendous opportunities and within Pakistan Sindh is a resource rich province having the potential to become regional economic and Power Hub. Chief Minister Sindh Syed Qaim Ali Shah expressed these comments while addressing a press conference arranged at the residence of Counsel General of UAE. A high powered official delegation headed by Worthy Chief Minster Sindh arrived in UAE to attend the Second Annual Investment Conference starting from May 1, 2012.
Syed Qaim Ali Shah speaking in the press conference held jointly with the Minister Commerce, Government of Pakistan congratulated the UAE Government for organizing such an event in Dubai. He said it is such events which make UAE a destination for business collaborations.
Focusing on Sindh’s potential he said Allah has blessed Sindh with all the resources to become Regional Power House. Karachi, the largest city, and finance and trade hub of the country is Sindh’s capital. Sindh has proven reserves of 175 billion ton coal, which can produce 100,000 MWs for next 300 years; it has 180 km long Wind Corridor and it produces over 70% of country’s Gas and 51% of Oil. Sindh has over 5.4 million hectares of cultivable land and it contributes about 23% to country’s agriculture.
There is massive scope for food processing and Agri-businesses. Sindh has a big competitive edge in production of horticulture especially dates; mangos; guava; banana; onions and redchillies. In addition Sindh province also has huge potential for Livestock including Dairy and Halal meat production. Sindh has 350 kms of coastline and accounts for 71% of country’s marine resources including fish and shrimp.
He emphasized that the Government of Pakistan and the provincial government of Sindh were participating in the event to explore possibilities of increasing foreign direct investment in Pakistan and in the province of Sindh.
He said Government of Pakistan and the Government of Sindh have evolved a very attractive policy regime for foreign investment carrying range of benefits for foreign investors. For investment in Thar Coal and Wind projects there is an attractive tariff; there is dollar based repatriation of profits and plus a zero rated import duty on import of machinery.
The Chief Minister Sindh stated that given Sindh’s mineral resources and Renewable Energy resources coupled with a attractive incentive package, it is a great opportunity for international companies to invest in this sector. He said, we have come here with great enthusiasm and we look forward to very robust and fruitful interaction not only with the UAE Government but also with other government and international business delegations for fruitful economic exchanges.
For more information, contact:
Mr. Allah Bachayo Memon
Chief Minister House
Tel: +9221 99202019
Cell: +92300-3524057 (Ext: 336)