Export processing zones: Chief satisfied with Karachi unit’s performance

KEPZ records year-on-year increase of 26% in 2013-14.

KARACHI: Export Processing Zones Authority Chairman Rabiya Javeri Agha has expressed satisfaction over consistent growth trends in exports recorded in the last seven months.

The Karachi Export Processing Zone (KEPZ) has achieved significant export success with an increase of 43% in June this year. Annual exports for 2013-14 were $363.13 million compared to $299.16 in 2012-13, reflecting an overall increase of 26%. Signs of healthy resurgence of KEPZ export activities are being noted and reflected in export growth which is pulling KEPZ out of its dormancy, added the statement. This achievement becomes all the more important if analysed in context of 5% export drop in 2011-2012 and 2% decline in 2012-13. European Union (EU) is the single largest export destination zone along with Middle East, Africa and Asia.

Reinvigoration of KEPZ industrial activities are attributed to improving its investment and business environment which include, consultations with Zone investors to resolve their immediate operational issues, facilitating sick units, and exercising regulatory controls on imports/export procedures.

EPZA chairman assigned the team to finalise a roadmap for future projects aimed at image building of EPZs and attracting investment in value-added industries. Many potential investors have shown interest in putting up industries in KEPZ but plot possession by sick units is an issue. Facilitations including different revival packages and extended utilities will be offered to investors who commit to starting operations by agreed deadline. This strategy is expected to yield result within six months to one year.

Published in The Express Tribune, July 15^th, 2014.

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