THATTA, April 18: Federal Minister for Privatization and Investment, Dr Abdul Hafeez Shaikh has said that Thatta offers vast investment opportunities because of its proximity to Karachi and a better law and order situation.

Speaking at a gathering of elected representatives at the Makli circuit house here on Saturday, he said that when industries could be established in far-off places like Faisalabad and Gujranwala why the same could not happen in Thatta which was the most suitable area for the purpose.

About the privatization of Thatta Cement Factory, he said that workers had been paid Rs160 million under the golden handshake scheme, and added that the factory owner had been bound to appoint local people and keep the factory school and hospital functional.

He, however, urged the local people to cooperate with investors and did not harass them. The minister stated that the Rohri Cement Factory, which had been lying closed for the last eight years, would also be made functional as the necessary process in this regard had been finalized.

He said that the government did not want to privatize state-run enterprises but it had been left with no option as these units were incurring huge losses. He said that all over the world state enterprises and organizations were earning profits, but here they were incurring losses due to their inefficient and dishonest management.

Dr Shaikh said that the Privatization Commission had earned Rs42 billion over the last one year and claimed that the privatization policy would help overcome unemployment. Later, talking to newsmen, Dr Shaikh expressed the hope that differences over the National Finance Commission issue would soon be resolved.

Evading a question about the Kalabagh dam and Greater Thal canal, he said that the credit for initiating a survey about water needs downstream Kotri barrage went to the present government.