Key Takeaways
- Federal Minister for Maritime Affairs invites vanaspati manufacturers to set up an edible oil industrial city at Port Qasim.
- The government plans to develop an automotive processing zone and an apparel zone at the port.
- The edible oil industry is a major contributor to government revenue, generating substantial customs duty and sales tax.
Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, has invited vanaspati manufacturers to establish an edible oil industrial city at Port Qasim. The minister addressed members of the Pakistan Vanaspati Manufacturing Association (PVMA) during the inauguration of their house on Friday.
Chaudhry stated that the government would facilitate the industry in setting up the proposed zone and provide necessary facilities at Port Qasim. He highlighted the importance of the edible oil industry as a major contributor to government revenue, generating significant customs duty and sales tax from imports.
The minister announced plans to develop industrial and commercial zones at the port to attract investment and promote manufacturing and exports. An automotive processing zone, covering 150 acres, is planned, with the capacity to be expanded in phases based on market demand.
Additionally, a 250-acre apparel zone is also in the pipeline. The first phase of this project is projected to create more than 138,000 jobs and generate annual exports of around $2.2 billion.
Chaudhry mentioned that issues related to land at Port Qasim have been taken up and will be resolved over time. Land would be allotted to investors who come forward with viable business plans. He also addressed the water shortage at the port, suggesting the establishment of a seawater treatment plant under a business model in collaboration with the PVMA.
The minister invited the PVMA to participate in the proposed project, stating that the association could work with Port Qasim to establish and operate a system to meet the water requirements of industries operating at the port.
Furthermore, the government is seeking greater private-sector participation in the development of facilities and industrial activity at Port Qasim. Chaudhry emphasized the government's commitment to fostering a conducive environment for industrial growth and investment.
