KARACHI: Chief Minister of Balochistan Mir Sarfraz Bugti has assured strict security measures, while inviting both domestic and international investors to take advantage of the rich investment opportunities in the province.
While addressing the business community at a “Balochistan Business and Investment Conference” held on Wednesday at the FPCCI, he highlighted Balochistan’s immense potential across various sectors, including natural resources, tourism, and infrastructure, emphasizing the region’s readiness to become a hub for economic growth and development.
He also emphasised Balochistan’s vast untapped potential, inviting investors to explore the region’s diverse sectors for lucrative prospects. “Middle East and Saudi Arabia have already shown investment interest in the mining sector of Balochistan,” he revealed.
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Chief Minister said that Balochistan is open for business and ready to support economic growth of the country and security would be provided to traders and investors, similar to the support given to Chinese investors in Balochistan.
“We are planning to establish an Export Processing Zone in Sui with all necessary facilities,” he stated, adding that gas will first be provided to Sui and then distributed to other parts of the country.
He urged Karachi’s businessmen to establish the head offices of factories in Hub within the province, so that Balochistan can generate tax revenue.
He informed that the draft of the Bank of Balochistan is in its final stages and it will be officially operational after completion of regulatory approvals. “The President of Pakistan has given special instructions for the Bank of Balochistan, and the draft for its establishment is in the final stages,” he added.
He clarified that misinformation was being spread about the Reko Diq project, and it was not being handed over to Saudi Arabia. He also drew attention to the lack of motorways in Balochistan and requested the federal government to provide a motorway for the province to reduce road incidents.
He pointed out that there are no accurate statistics on the province’s mineral resources. He said Balochistan earns just Rs 9 billion from its minerals, while there are numerous investment opportunities in Balochistan in mines and mineral sector. “We invite both domestic and foreign investors to invest in the region’s best investment.”
The Chief Minister further announced plans to give technical training to 30,000 youth and send them abroad for better job opportunities.
FPCCI President Atif Ikram Sheikh called for improvements in the security situation in Balochistan and suggested setting up a Balochistan Bank, similar to Punjab Bank. United Business Group patron-in-chief S M Tanveer highlighted immense opportunities in Balochistan’s mining, agriculture, and tourism sectors, suggesting that billions of dollars could be earned with the right approach.
At the conclusion of the conference, a Memorandum of Understanding (MoU) was signed between the Balochistan Board of Investment and FPCCI.
The conference was also addressed by provincial minister Mir Zahoor Buledi, Saquib Fayyaz Magoon, Mian Zahid Hussain, Nasir Khan, Major Abdul Karim Zarkhon, Arif Habib, and others. The conference was attended by Khalid Tawab, Hanif Goher, Mazhar Ali Nasir, Abdul Samad Khan, Malik Khuda Bakhsh, Tariq Haleem, Farooq Khan, Maqsood Ismail, Shakeel Dhingra, Ismail Sattar, and others.
Copyright Business Recorder, 2024
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