Business

Dubai port operator to set up industrial park

Natural resources, location and talent pool give Pakistan huge economic potential

Our Correspondent September 24, 2022

The restriction on clearance of machinery is ostensibly pushing the industrial sector towards a new crisis, warned Shabbir Mansha Churra, Vice President FPCCI. photo: file

KARACHI:

DP World, the Dubai-based global port operator working at Karachi port, is working to set up an industrial park in Pakistan to attract global investors due to the country’s geographically ideal location and strong economic fundamentals.

“Pakistan’s economy has strong fundamentals, resources and an ideal location,” DP World Owner and Chairman, Sheikh Sultan Ahmed Bin Sulayem said while addressing the media. The DP chairman also informed the audience that the company is donating millions of dollars in flood relief to Pakistan.

Countries in the far East are considering relocating their industries to Pakistan in order to cut down high production costs. China has also now become an expensive market for production in the region due to rising wages.

“Pakistan is an ideal location and we are working to open an industrial park in Pakistan,” stated Sulayem.

He further explained that the country has “natural resources and a highly educated talent pool. Pakistan thus possesses huge economic potential despite the current flood crisis in the country.”

Sulayem emphasised that the floods in Pakistan, and the resulting devastation, is a “wakeup call for everyone.”

“We are committed to reducing the carbon footprint and the UAE government stands with Pakistan in these testing times,” he added.

The DP World chairman said he would personally visit flood-affected areas to assess the situation and help victims. During his visit, he is scheduled to call on President Arif Alvi and Chief of Army Staff General Qamar Javed Bajwa.

“We will work with the army. They are well-qualified and well-trained to help people out in the flood areas,” he stated. The total worth of donations remains undisclosed. Sulayem mentioned, however, that the donations would include food, tents and blankets.

The heavy rains and flash floods have destroyed, either completely or partially, approximately two million houses and dozens of roads, railways and bridges nationwide. Pakistan produces less than one-percent of global greenhouse gas emissions but its geography makes it extremely vulnerable to climate change. The government has estimated losses amounting to $30-40 billion due to the floods.

Published in The Express Tribune, September 24^th, 2022.

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COMMENTS (1)

test | 2 years ago | Reply While our govt was launching langar khanas their govt is setting up industrial parks to boost innovation and industrial exports as well to bring investment and foregin factories in those industrial parks. But our elite i am just speechless as usual and i have been from the past years their lack of focus lack of knowledge lack of skills and lack of outside of the box thinking has often led me to think are they Pakistanis even or are they foreign agents planted by western powers and i think it about all the parties without any distinction at all i think it about PPP PMLN and PTI that they are doing it for their vested interests and not for our homeland. That s why i am done with this system and i am done with our poor status as a country and yeah how will we feed our 250 million people how we will give them jobs. We need massive industrialization at a level never seen before but our elite will not allow that because doing that will bring down their profits and vestetd interests from their import oriented businesses that our policitians and businessmen do in collaboration with each other for commissions and kickbacks. So bhai Allah malik hai is sarzameen ka warna elite nay to kuch bhi nhi chora sab kha pee kay chat.

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