After hitting snags for several years, Foreign Minister Bilawal Bhutto Zardari and Sindh Chief Minister Murad Ali Shah on Saturday finally inaugurated the much ambitious multi billion rupees Dhabeji Special Economic Zone under China Pakistan Economic Corridor (CPEC) project in Thatta. This is indeed a great leap forward towards fostering industrialisation and helping the country stand on its own feet.
Our country has long struggled with economic challenges, including a stagnant industrial sector and high unemployment rates. The Dhabeji SEZ presents a viable solution to combat these issues by providing a platform that encourages both domestic and foreign investors to set-up industries and manufacturing units. The Dhabeji SEZ has an ideal location of being close to ports of Karachi and Port Qasim and it is anticipated to fetch an investment of $5 billion besides creating over 200,000 jobs. Some Chinese investors have already expressed eagerness to lay their industries in the zone. It is expected that Chinese giant entrepreneurs will relocate their industries in the SEZ. This influx of investment will inject much needed capital into the economy and also transfer advanced technologies, foster innovation and enhance productivity. Moreover it will encourage growth of ancillary industries and supply chains, promoting a multiplier effect and generating a ripple of economic development in surrounding areas. Providing ten years tax holiday to investors besides tax exemptions on import of plants and machinery are steps in the right direction. It must also be ensured that investors do not face any hurdles in establishing their manufacturing units in the SEZ. They must be facilitated in every possible manner with provision of all amenities. We will rather suggest that Dhabeji SEZ should be made a green energy zone by provision of electricity from renewable sources of energy like wind and solar. This will reduce production cost of industries and make their products competitive at international markets. Apart from China, other friendly countries should also be engaged for investment in this SEZ. It is imperative for government and all stakeholders to work collaboratively to ensure the success of Dhabeji SEZ. Work should also be accelerated on inauguration of other SEZs envisaged under CPEC as it is the only way through which we can uplift our economy.
