ISLAMABAD: Minister for Industries and Production Ghulam Murtaza Jatoi Tuesday informed the Senate that Export Processing Zone-3 in Karachi was being established to increase exports of the country.
Responding to various questions during Question Hour in Senate, he said, 1000 acre of land for this zone was being developed while 500 acre of area would be developed at Build-Operate and Transfer (BOT) basis.
He said tender for the project would be floated next month, adding that two more Export Processing Zones would also be established in Sukkur and Gwadar.
The Minister said a joint venture with a private company FIEDMC in Faisalabad was being signed to establish Export Processing Zone in Faisalabad. The private company will make full investment in it and profit will be shared 50:50.
The Minister told the House that exports from EPZ's during the last two years (2014-15 and 2015-16) stood at $508.895 million and 516.389 million respectively.
He said efforts were being made to set up more Export Processing Zones and Economic Zones in the country with special focus on National Industrial Parks to reduce unemployment in the country, particularly in rural areas.
In this connection, he said, a Small and Medium Industrial Zone was being set up at Khairpur and Noshero Firoz.
To another question, he said according to Pakistan Bureau of Statistics, the industrial sector registered 6.80 percent increase during last fiscal year, adding that mining and quarrying registered 6.8 percent increase, manufacturing 5 percent, electricity generation and distribution and gas distribution 12.18 percent and construction sector registered an increase of 13.10 percent during 2015-16.
The Minister informed the House that salaries for the month of March, 2016 had been paid to the employees of Pakistan Steel Mills.
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