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Sindh board of investment being planned,

says Dewan

NAYYAR ZUBERI

KARACHI: The Sindh Government is working out a plan to establish a Sindh Board of Investment, Minister of Industries, Labour and Transport, Dewan M Yousuf, informed the businessmen on Thursday.

Speaking at a meeting of the Karachi Chamber of Commerce and Industry (KCCI), he said the proposed board would work on same pattern on which the Federal Board of Investment was working and provide guidance, to investors, and improve infrastructure to attract new investment in different fields.

He said his department had moved a summery for the consideration of the Governor that the Federal government he moved to revive Nooriabad industrial estate.

He said under the proposed revival plan, Nooriabad should be declared as a part of Karachi district so that people living or working in Nooriabad should not run to Karachi or Hyderabad for general work.

The minister said under the revival plan, the provincial government would connect Nooriabad by railway and provide gas and sufficient power and develop the area to international standard.

Dewan said the provincial government would also recommend to the federal government to allow it to engage foreign firms and consultants to develop the industrial estate.

He said that the provincial government was also considering a proposal not to charge Non-Utilisation Fee (NUF) from those investors who had failed to utilise the allotted land in different industrial estates of Sindh.

He said under the proposed plan, the investors would be allowed to utilise their allotted plots by June 30,2001. Those, who failed to utilise the allotted plots by the given time would be fined heavily.

Replying to various questions raised in the address of Welcome by KCCI President, Amjad Rafi, he said he had already directed the Chief Secretary to hold a meeting of industrial facility board in near future.

He invited the businessmen to suggest improvement in labour policy so that it could be finalised as soon as possible.

He stated that around 40 to 60 percent revenue of Sindh Industrial Trading Estate (Site) was spent on establishment and only 20 percent went into development and construction of roads. So the government was trying to control the cost of establishment.

Welcoming the guests Amjad Rafi, said the problem of sick industrial units continued to persist. Several committees were set up in the past to redress their problems and to revive them, but all such efforts proved an exercise in vain.