Federal Communication Minister Babar Ghouri on Tuesday launched here an industrial plot scheme at the Port Qasim Authority for overseas Pakistanis, and urged them to invest their money to begin their small business at home.
Addressing a press conference at the Pakistan High Commission along with MNA Farooq Sattar and Senator Anisa Zaib Tahirkheli here late on Tuesday, Ghouri said initially, 1,200 industrial plots of 1,210 square yards had been earmarked for the purpose which would be allotted to overseas Pakistanis on the basis of 'first-come-first served' basis for a 30-year lease.
Pakistan's High Commissioner to the UK, Dr Maleeha Lodhi was also present on the occasion.
If the number of applicants exceeded the number of plots, then the allotment would be made through balloting, he said, adding this scheme was launched to provide investment opportunities to the overseas Pakistanis to start their business at the small level by purchasing the industrial plots.
Babar Ghouri said he would also visit New York, Saudi Arabia, and other countries to meet with a large number of Pakistani expatriates, and invite them to seize the opportunity to begin their business in the country of their origin particularly at a time when all the economic indicators were showing positive signs.
Each plot will cost 2,500 Sterling Pounds and could be utilised only for setting up the industry, said the minister, adding the applicants will have to deposit an amount of Rs 62,500 or the equivalent amount in the US dollars with the application, while 25 percent of the cost would be payable at the allotment of the plot and the rest 50 percent would have to be paid after two years.
The minister assured the expatriates that the protection of the allotted plots would be the responsibility of the PQA.
Giving details of the scheme, he said the application should be addressed to the Deputy General Manager, Industrial Management, Port Qasim Authority, Karachi, with two recent passport size photographs and two copies of passport along with the application form, adding the PQA will not transfer the plot till two years and will be responsible to provide the road, potable water, and sewerage facilities up to the periphery of the plot only.
Babar Khan Ghouri arrived here late Sunday basically to discuss the, issue of compensation with the Insurance Group concerned with regard to Tasman Spirit, an oil tanker, which broke into two at the Karachi harbour some months back.
The minister is leading a 6-member delegation, and held discussion here on Tuesday with P and I Club, a group here which gives insurance to ship-owners.
He is accompanied by K.B. Rind, a senior official of the communication ministry, Admiral Nauman Basit of the Karachi Port Trust (KPT), KPT General Manager Brigadier Zaidi, MNA Dr Farooque Sattar and Senator Anisa Zaib Tahirkheli.
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