Pakistan has for the first time entered world market in metals by exporting substantial quantity of blister copper from Saindak Gold Copper Export Processing Zone (EPZ) in Balochistan province, reports PPI correspondent.
Saindak EPZ measuring 1284 acres in Chagai district, Balochistan was notified on October 13, 2001 and formally inaugurated on August 6, 2003.
It has envisaged investment by Metallurgical Construction Company of China of over 40 million dollar, to produce 16000 tonnes of blister copper annually containing five tonnes gold and silver from indigenous ores generating foreign exchange revenue of 40 million dollar to 45 million dollar per annum.
Chairman Export Processing Zones Authority EPZA Lieutenant Colonel Syed Akbar Husain (Retd) told PPI that Metallurgical Construction Company of China had abandoned the project eight years ago, re-started in May 2002 on condition if Pakistan government turned it into EPZ, which was done.
About 3000MT of blister copper worth 7500000 dollar have so far been exported from Saindak EPZ, where 994 Pakistanis and 262 Chinese are working.
He said same Chinese company was undertaking mining of lead and zinc at Duddar in Balochistan, for which MoU was signed during visit to Beijing by President Pervez Musharraf in November last.
The project will generate significant income to EPZA and national exchequer. Balochistan government will get royalty of 9 million dollar on sales, and create jobs for 426 workers.
EPZA Chairman said Reko Diq Copper EPZ in Chagai district has been assigned to Tethyan Copper Company Australia (TCCA), which has raised 10 million dollar investment. Once commercial production starts, the company will go for more capital raising abroad.
He said Tethyan Copper having investors from various countries, including Australia, Canada and Europe, is on track to complete all pre-operating studies and tests before commercial production begins in three years on Reko Diq copper mining project.
Lieutenant Colonel Akbar Husain (Retd) said Chinese have shown interest to make investment in other EPZs of Pakistan. A delegation of Shanghai Fisheries General Corp (Group), visited Pasni and Gwadar last month and indicated making sizeable investment in fisheries and fisheries related industries.
They will soon submit proposal to the government to modernise fishing system in coastal areas of Balochistan.
A delegation of Chinese investors from Xin Jiang province and Kashgar, which borders Northern Areas of Pakistan met EPZA Chairman recently and discussed prospects of investment in upcoming Gilgit EPZ.
EPZA Chairman pointed out that said federal government has declared vast area around Gwadar deep sea port project on Balochistan coast as Free Trade Zone, where establishing EPZ is also envisaged to provide avenues for investment in industry, warehousing and trading.
The government has decided to provide electricity, gas and water at highly competitive rate with Iran, UAE and other Gulf States to make Gwadar Free Trade Zone investment attractive.
He said government is considering certain concessions like continuing income tax exemptions for another 10 years from date of commercial production, empowering EPZA to issue work permits to foreign nationals employed by EPZ units and restoring income tax exemption on salaries of foreigners working in EPZ.
``Once approved the incentives will surely make Pakistan's EPZs competitive and attractive among other EPZs in the region', he noted.
He said after Karachi, Risalpur and Saindak EPZs, the next to start operation will be Sialkot EPZ. With developed infrastructure and all utilities, Sialkot Zone is ready for operations.
Over 170 projects have been approved with projected exports of over 400 million dollar annually when commissioned and rising to 1 billion dollar. Sialkot has good exports in sports, surgical items and allied industries.
Lieutenant Colonel Akbar Husain (Retd) said Karachi EPZ achieved 30 percent growth in exports in last fiscal year. Investment proposals being sanctioned will be allotted plots in KEPZ phase II, ready for development of infrastructure. It will have 165 plots over area of 185000 metres.
He said KEPZ is producing world brands products like Zantos, Motherhood, Xhilaration, Speed, Urgent Gear, St-Bernard, and is famous for chain stores Texco, Wal Mart, K Mart, BHS, J C Penny, Roeboks and C&A.
Their quality of products is in conformity with ISO certified international standards and other measures of social behaviour.
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