KARACHI: Sindh Board of Investment (SBI) and National Logistics Cell (NLC) have signed a memorandum of understanding (MoU) to collaborate and promote the creation of a Logistics Park within the proposed China-Pakistan Special Economic Zone (SEZ) in Dhabeji-Thatta.
According to an SBI press release the MoU was signed by NLC Director General Major General Mushtaq Ahmed Faisal and SBI Chairperson Ms Naheed Memon. Through this agreement both sides will actively carry out the engagements for establishment of the Logistics Park, in accordance with the master plan and feasibility study of the China-Pakistan SEZ Dhabeji.
Under the agreement, the SBI will promote and extend possible facilitation to NLC for its role as Logistics Park Management Organisation with the collaboration and partnership of foreign commercial enterprises and designated Chinese enterprises.On the occasion Ms Memon said that China-Pakistan Economic Corridor has opened the doors of accelerated economic activity, logistics is an essential and a big part of it. The zone was approved as part of CPEC last December
The NLC director general said that Special economic zones have an important role in industrial development and are our assets. Arif Habib Group Chairman Arif Habib and TCS (Pvt) Ltd Chairman Khalid Nawaz Awan also spoke. The Dhabeji SEZ is spread over 1,000 acres and is located 55kms outside Karachi.
Last July, Ms Memon announced that the Sindh government has received committed investment from Chinese investors in chemicals, pharmaceuticals, garments and steel enterprises.
She also estimated that economic activity at the zone would create output worth $2bn. It offers incentives like a 10-year tax holiday, duty-free imports of capital goods and a “flexible land acquisition policy” as per the SBI website. Its development cost has been estimated at $150m, with the largest share of that for infrastructure development at the zone.