KARACHI: Chief Minister of Balochistan Sarfraz Bugti on Wednesday called upon the business community to invest in Balochistan, urging them to prioritise the national cause over profitability.
“The national cause takes precedence over profitability in the case of Balochistan,” Bugti stated while addressing the Balochistan Business & Investment Conference at Federation House.
He assured investors that the provincial government would ensure a secure environment for investment. “We will not back down from our responsibility,” he pledged, promising the same level of security to local investors as is provided to Chinese investors in the province.
Bugti revealed that investors from Saudi Arabia and other Gulf states had expressed interest in the mining sector, which holds significant potential for growth.
The chief minister said that the province’s vast energy resources, including oil, gas, solar, and wind energy, are key opportunities for investment. “These resources can be harnessed with the support of the business community,” he said.
Announcing plans for a new economic zone, Bugti revealed that the provincial government would allocate 10,000 acres of land under a public-private partnership (PPP) model. He highlighted the government’s proactive approach to promoting PPP initiatives and facilitating investments.
Bugti reassured the business community that bureaucratic hurdles would not impede their investments. He mentioned implementing a one-window operation to simplify processes and foster a business-friendly environment. “Balochistan offers more opportunities than any other province,” he remarked, urging the business community to contribute to the province’s development. He also appealed to businesses to establish their headquarters in the Hub district, where many of their factories are located, ensuring that tax revenues benefit the province.
Mir Shoaib Nosherwani, planning & development minister for Balochistan, announced plans to allocate one million acres of land for fisheries development, inviting the private sector to invest in fisheries and livestock. He said that the upcoming fisheries policy would create vast opportunities for private investors.
Nosherwani further highlighted efforts to improve the canal system, which would boost the agricultural sector. He noted significant upgrades to the province’s communication network, with the federal government investing Rs150 billion in highway development. He reported that the development of the Gwadar Port is progressing at an accelerated pace.The conference highlighted the provincial government’s commitment to fostering a conducive environment for economic growth, driven by the active participation of the private sector.