KARACHI, Oct 6: Sindh Finance Minister Syed Murad Ali Shah said on Saturday that establishing a Japanese special economic zone near Dhabejee will help generate economic activity and also provide job opportunities.

Talking to media after witnessing signing ceremony of memorandum of understanding (MoU) between Sindh Board of Investment (SBI) and Japanese group, DTS Inc headed by Dr Hiro Takahashi who is also Pakistan’s commercial counselor to Japan for the setting up of the zone.

Responding to a question, the minister said: “It is true that the country is facing a power crisis but the provincial governments have the mandate to set up power plants. For this, the Sindh government has taken an initiative for setting up power plants to face the challenges.”

He disclosed that a 100mw power plant with the assistance of Czech Republic is in the pipeline. The Sindh government is also working on wind energy for which approval has been given by the Export Credit Agency and its financial close will be done by end of this year, he said.

Syed Murad Ali Shah said that for long the provincial government had been striving hard for establishing Japanese special economic zone for which a piece of land had been also earmarked.

“After short listing, SBI chairman Mohammad Zubair Motiwala will issue expression of interest for developing infrastructure and road shows will also be held in Japan to attract investment in the zone,” he said.

Speaking on the occasion Dr Hiro Takahashi said that 250 acres of land earmarked for the special zone will attract small and medium sized companies from Japan to set up industries.

He further disclosed that $100m investment is expected on establishment of around 10,000 companies which will generate jobs and economic activity in the province and the country at large.