KARACHI: The federal government led by the Pakistan Tehreek-i-Insaf on Friday accused the Pakistan Peoples Party-led administration in Sindh of “misleading” people about the former’s proposal on Bundal Island and “requested” the provincial authorities to “reconsider their stance on the matter and not to miss this big opportunity” that “guaranteed” huge foreign investment.

Criticising the hard line taken by the PPP on the issue, two key leaders from the ruling PTI expressed the hope the Sindh government would review its stance on the proposal “for the good of the people of the province”.

Speaking at a press conference in the Governor House, Sindh Governor Imran Ismail and federal Minister for Industries and Production Makhdoom Khusro Bakhtiar described in some detail the two-day visit of the latter to Karachi, which they said had been undertaken on the prime minister’s directives and was aimed at “streamlining things” before Imran Khan’s visit to the city next week.

Bakhtiar says prime minister will inaugurate Karachi Circular Railways project next week

After sharing details of the minister’s visit, Governor Ismail said in response to a question that although the proposal had huge potential it was sad that no progress had been made on the Bundal Island project.

“It’s unfortunate that the Sindh government’s irresponsible attitude has left the proposal on Bundal Island static for the past several months,” he said. “The PPP has misled the people about this most viable project, which would generate huge employment for the province and its people while bringing prosperity to the province and the country. This is an attractive proposal to the world and guarantees huge foreign direct investment. But it could not proceed further.

“We hope it [the Sindh government] would rethink and change its stance on this project for the good of the people of the province.”

Earlier, the Sindh governor and the federal minister in their brief press talk said that rapid industrialisation in the country for sustained economic growth was one of the top priorities of the PTI and for that purpose all possible steps were being taken within the shortest possible time.

“Higher cost of industrial plots is a big hindrance to industrialisation in Karachi,” said Governor Ismail. “Being a port city, it has great potential for industrialisation. Karachi is contributing (about) 50 per cent to the total exports of the country,” he said.

“On the directives of the prime minister, the federal minister [for industries] has spent two busy days in Karachi… He visited key organisations like the Pakistan Steel Mills and K-Electric where he was briefed in detail.”

Mr Bakhtiar said the enabling business environment created by the PTI government had played a pivotal role in attracting domestic and foreign investment in the country. Facilitation of investment, he said, was among the top priorities of the government and it was removing impediments to industrial growth.

“The government has given top priority to exports and for that purpose every possible facility would be provided to the industries… It is because of this that special attention is being given to the development of EPZs [export processing zones],” he said.

In response to questions about the federal government’s plans for the business capital of the country, the minister said the metropolis had a big role to play in the country’s economic prosperity and development.

If sustained economic growth of six per cent is to be ensured, the country would have to boost industrialization and exports from the port city. “The federal government has allocated Rs22 billion for promoting industrialisation in the country; out of this Rs13bn is for industrial parks in Karachi alone,” he said.

“Similarly, Rs1.6bn has been approved for water and sewerage schemes in Karachi. The federal government is also the guarantor for this amount of loan from the World Bank.

“Around Rs5bn has been provided for development of the Dhabeji Special Economic Zone, which is part of CPEC [China Pakistan Economic Corridor] and 1,500 acres of the Pakistan Steel Mills land has been leased for new national industrial park which would be completed at a cost of Rs7bn.”

Mr Bakhtiar said that Prime Minister Khan was scheduled to inaugurate the Karachi Circular Railways project next week. He promised that the federal government’s project would be completed before completion of the PTI government’s tenure.

Published in Dawn, September 11th, 2021