Sindh govt introduces reforms to bring investment: CM Sindh

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Sindh Chief Minister Syed Murad Ali Shah has said that he was working hard to make his province investment-friendly so that investment could be attracted to improve the economy, create employment opportunities, and bring in prosperity.  This he said while talking to a 28-member under training delegation of National Command Authority led by Dr. Ansar Pervez.  The participants were senior most officers and were either head of strategic institutions or their important wings.

Syed Murad Ali Shah said that he created an Investment department with broad-based responsibilities of promotion of investment in all sectors in Sindh. “This department has continuously been developing smooth platform of investment opportunities, incentives, SME diaspora, social sector investments, technical & subsidy assistance and ease of doing business for smooth environment of local and foreign investment,” he said and added the different units have been established at Investment Department for policy formation, create climate of investment with ease, e-governance, bridge between public and private sector, one-window-operations, market Sindh investment opportunities and new ventures according to international standards.The chief minister said that Special Economic Zones (SEZs) have either been established or in the process of establishment. Dhabeji SEZ is being developed under PPP mode and it would bring in around $5 billion investment apart from generating 200,000 direct and indirect job opportunities. Syed Murad Ali Shah said that Dhabeji Industrial Zone was a flagship project of his government and one of the priority projects under China-Pakistan Economic Corridor.

Talking about Khairpur SEZ, the CM Sindh said that it was the first SEZ registered under SEZ Act 2012 in February 2014. “Five industries have started production there and 13 others [Industries] would start production in Sept/Oct 2022,” he said. The CM Sindh said that Marble City SEZ, a state-of-the-art Industrial Estate was being established in Karachi under PPP mode to uplift marble, granite, and construction sectors in Pakistan.

Syed Murad Ali Shah said that the Investment department was  working to enhance the SEZs platforms at Sukkur, Shaheed Benazirabad and Hyderabad to revive the pace of industrialization in the province. “We have established `Sindh Economic Zones Management Company’ to explore the potential areas for new SEZs, implement the SEZs regulations and execute the SEZs in Sindh as Developers.

Syed Murad Ali Shah said that with the objective to encourage investment in Small & Medium Enterprises (MSE), he has constituted Sindh Enterprises Development Fund (SEDF) entity at Investment department to promote opportunities in Agro-food value chains, Mining Mineral processing, and Innovation & Technology for multiple economic benefits on growth, intermediary services and productivity.“Our government provides markup subsidy to SMEs for enhancing their businesses in priority sectors,” he said and added “SEDF has been able to mobilize private sector investments to the tune of Rs6,000 million through provision of mark-up subsidy worth Rs 400 million.”Syed Murad Ali Shah said that his government has earmarked 8,921 acres of land at District Malir for Education City (EC) Project. “The project will accommodate at least 150,000 students, generate direct employment opportunities over |250,000 and will trigger the enormous economic activity in the province,” he said and added the EC would house over 50 nationally and internationally acclaimed institutions such as SZABIST, Aga Khan University, Ziauddin University and other institutions have already established the campuses at Education City.

The CM Sindh said that his government commenced working on the Doing Business Reforms Agenda in 2017 with the assistance of the World Bank. He added that Sindh Business Registration Portal (SBRP), Single Window & E-Payment Facility at SBCA, SESSI’s MIS Portal, E-Stamping system by Board of Revenue Sindh, Operationalization of Online Wiring Testing Certificate approval between K-Electric and Energy Department were remarkable achievements.

Syed Murad Ali Shah said that due to the above-mentioned reforms, Pakistan’s ranking improved from 147th to 108th in two years as per the ‘Doing Business Report’ issued by the World Bank Group.