Improved law and order situation in Karachi drew massive investment

KARACHI: Improved law and order situation in Karachi, the commercial hub of Pakistan, has drawn massive investments in almost every sector of the economy, said Governor of Sindh, Mohammad Zubair here on Wednesday.

Talking to a three-member delegation of Cargill group led by its managing director, Tony Kettinger; country head for Pakistan, Imran Nasrullah and commercial manager, Anas Haroon, he said in 2013 law & order and energy crisis were existential threats to Pakistan.

"Situation has changed tremendously in past five years' time," he said emphasizing that investments are directly linked to the law and order situation in any country.

He said that the Pakistan Muslim League Nawaz (PML-N) soon after assuming power in June 2013, on sheer basis of strong political will, launched a massive operation to improve law and order which was also duly supported by the law enforcement agencies.

Rangers were given special powers to fix the situation in Karachi which at that time was designated to be one of the most dangerous cities by the international media, said the Sindh Governor mentioning massive change registered in the metropolis due to the much needed intervention.

Governor of Sindh said that economic stability in the country is also a reality and that all macro indications of economy are in positive direction reflecting success of economic policies of the federal government.

Referring to balance of payments situation in the country, he said that huge increase in imports is due to plants and machinery required for various China-Pakistan Economic Corridor (CPEC) projects.

With specific reference to the CPEC, he said series of relevant projects were initiated across the province and its capital including US$ 34 billion worth projects in energy sector only.

These projects, he said have started to make the needed difference.

He on the occasion also clarified that CPEC related projects provided opportunities to all countries to play their role in regional development.

"CPEC is a game changer in real sense," he said.

Sindh Governor on the occasion also appreciated Cargill group's services in the province during last 20 years and assured to provide all help and assistance to the group to further expand its agri food activities in port Qasim Industrial Area.

Tony Kettinger apprised the Governor that cargill group was amongst top three global companies (private sector) with annual turn over of US $100 billion.

He said that the group is engaged in oil, poultry and animal feed business for last 20 years adding that potential in Pakistan can not be ignored by any multinational company.

"Cargill group is planning to further expand its operations in Pakistan by investing more in agri food sector," said Kettinger.