Chief minister for efforts to encourage investment

Investment board urged to focus on power generation.

KARACHI: Incentives and facilities should be projected in a fitting manner to attract maximum investment, said Sindh Chief Minister Syed Qaim Ali Shah.

Presiding over the third meeting of the Sindh Board of Investment on Thursday, Shah mentioned the vast scope of investment in coal mining, power generation, trade development and Halal food marketing and emphasised the need for board members to improve the investment atmosphere in the province.

Speaking on the subject of power generation, he explained that electricity is no longer a federal subject and tariffs will now be decided by the Council of Common Interests (CCI) after the promulgation of the 18th Amendment as CCI is the best forum to present and deal with the case.

Earlier, Sindh Secretary of Investment Muhammad Younis Dhaga in his presentation said that the Sindh Board of Investment must work on new avenues for power generation and agro-processing.

He also presented a progress report on the education city being established in Karachi. The meeting was informed that Rs1 billion has been earmarked in the current year budget for infrastructure development for the project.

It was also announced that the fisheries special economic zone project has been kept in the Annual Development Plan as a plan for a 352-kilometre coastline for the development of fish and shrimp farms has been submitted and approved.

Participants of the meeting were also informed that an exhibition on livestock, dairy, fisheries and poultry will be held on February 7 and 8 at the Karachi Expo Centre.

Published in The Express Tribune, February 5^th,  2011.