KARACHI: The Sindh Board of Investment (SBI) and the Ukrainian Pakistan Business Council have signed a memorandum of cooperation at the SBI office marking an agreement to strengthen collaboration in the education and skill development sector. The Ukrainian delegation was led by Ukrainian Chamber of Commerce and Industry Counsellor Alexandr Lvanchuk.
Sindh Board of Investment Chairman Zubair Motiwala cited Sindh’s potential for agro-processing in grains, horticulture, poultry and meat specifically so that Ukraine could tap into the production of dates, mangoes, guava, banana, onions and red chillies. According to Motiwala, Sindh has over 5.4 million hectares of cultivatable land and its contribution to the country’s agriculture stands at 23%.
SBI Chairman also claimed that Sindh has proven reserves of 175 billion tons of coal that can produce 100,000 megawatts for the next 300 years along with a 180 kilometre long wind corridor. He added that the province produces over 70% of the country’s gas and 51% of its oil.
Speaking at the occasion, Government of Sindh Investment Secretary Naheed Durrani said that the provincial administration has created an attractive policy regime for foreign investment with a range of benefits for investors. Investors in Thar coal and wind projects will enjoy attractive tariffs and there will be a dollar based repatriation of profits, she added. She also declared that there will be no import duty levied on machinery for investors in these projects.
Durrani said that Sindh’s mineral resources and renewable energy resources along with incentive packages are a great opportunity for international companies.
Alexandr Lvanchuk stated that his delegation is willing to invest in mining and agriculture machinery projects and to provide agro-technology including tractors, threshers, drip irrigation among other equipment to Pakistan.
Lvanchuk said that Ukraine is exporting certified halal food along with the export of fruits, rice, sunflower and tomatoes. He added that Ukraine is also looking to add value in their dairy and livestock sectors.
Published in The Express Tribune, May 25th, 2012.