Commerce minister pledges to revamp industrial policy

KARACHI: Sindh Minister for Commerce and Industry Jam Ikramullah Dharejo announced on Thursday that the provincial government is formulating a new industrial policy to revitalize the province’s manufacturing sector.

Speaking to economic reporters at his office, Dharejo emphasized the provincial government’s commitment to industrial growth and its ongoing efforts to establish industrial zones.

Addressing concerns about the Steel Mill land, Dharejo clarified that it will not be auctioned off. Instead, the government plans to develop a Chinese Special Economic Zone on the site. He further explained that while the land belongs to Sindh, the Steel Mill itself will be operated through a public-private partnership. “The federal government will decide to offer land in the Special Economic Zone to Chinese investors at special rates”, he said. Dharejo emphasized that the federal government is responsible for the mills’ outstanding liabilities.

The Sindh government is actively seeking partnerships with both local and international investors, including those from Russia, to drive industrial development. Dharejo expressed the province’s stance on independent power producers (IPPs), advocating for a review and renegotiation of existing agreements. He urged the federal government to address this pressing issue promptly.

The minister announced the development of a state-of-the-art, 2,000-acre SEZ on Hub River Road, to be implemented through a public-private partnership. Additionally, the Sindh government is expanding the Nooriabad Industrial Zone with a 1,300-acre Phase 3 and is committed to establishing agri-processing zones in major cities, aligning with the vision of Chairman of PPP Bilawal Bhutto-Zardari. Small and medium enterprises (SMEs) are also a key focus for the provincial government.