President of Pakistan Arif Alvi has assured the business community to exclusively launch infrastructure development and utilities projects for industrial zones under the mega Karachi package worth Rs1.1 trillion announced by the federal government last week.
He said this at a meeting with the business community at Sindh Governor House on Wednesday.
At the outset of the meeting, businessmen complained President Alvi that the federal government has not allocated a single penny for the seven industrial zones in the city and different sectors of the economy under the Karachi package.
"The business community is the missing link in the future development under the package," Karachi Chamber of Commerce and Industry (KCCI) former President Haroon Farooqi said while talking to President Alvi at the meeting.
"I am here to know what we can do for the business community under the Karachi package," Alvi was quoted saying at the meeting attended by businessmen belonging to different sectors of the economy.
"We are determined to resolve the business community's issues on a priority basis. The federal government will continue its cooperation and collaboration for the betterment of the city and for promoting businesses," he said. "Karachi is the hub of economic activities of Pakistan."
He asked businessmen to submit comprehensive proposals for infrastructure projects and utilities in the seven industrial zones of Karachi.
Accompanying President Alvi, Governor Sindh Imran Ismail asked the businessmen to submit their proposals soon so that the projects could be mentioned in PC1 of the Karachi package.
Industrialists said they would subject their proposals in a week or two.
Four out of seven industrial zones in Karachi have their own companies to develop infrastructure in their respective zones. "I have proposed President Alvi to allocate Rs2 billion for infrastructure development for each of the four industrial zones and the president has agreed to do so," said Korangi Association of Trade and Industry (Kati) President Sheikh Umer Rehan.
The meeting was also attended by representative of Overseas Investors Chamber of Commerce and Industry (OICCI), American Business Council of Pakistan (ABC), Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Karachi Chamber of Commerce and Industry (KCCI), All Pakistan Textile Mills Association, seven industrial zones, steel, cement and car manufacturers and independent power producers (IPPs). The meeting remained in session for about two hours.
Alvi Also visited Pakistan Stock Exchange (PSX) during his visit of the city during the day.
The federal government announced the Karachi package after infrastructure of the city was exposed in the wake of the recent heavy rainfall. The city was sunk in rainwater for several days and supply of utilities like power and telecommunications remained suspended in wait for evacuation of the rainwater from several areas of the city.
The infrastructure projects under the Karachi package are including for water, sewerage, solid waste management, transportation and roads network.
Earlier, Prime Minister Imran Khan made sure the business community's – the architect of economic growth – representation is taken well on board to improve infrastructure of the mega city of ports and economic hub of Pakistan on Saturday.
Businessmen quoted President Alvi saying that the government was working to amicably resolve the Gas Infrastructure Development Cess (GIDC) issue with the business community. "We are working to resolve the issue without hurting industries. We will soon share a good new on this."
A court of law has ordered businesses to pay the GIDC dues worth Rs400 billion to the government in 24 monthly instalments. Industries have recently received the gas bill carrying the first instalment of GIDC dues.
FPCCI former vice president Khalid Tawab said President Alvi has agreed to work on ending power and gas load-shedding in industrial zones. "We have urged the president to end monopoly of K-Electric in Karachi and let other companies come in competition of K-Electric. People had waited decades to have telephone connections while PTCL had monopoly. The arrival of mobile phone firms has changed the situation in favour of end-users."
The businessmen asked Alvi to provide industrial land in Karachi at affordable prices on ownership basis or on rental basis so that industrialisation could become possible here.
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