A Memorandum of Understanding to promote Investment and trade activities was signed between Sindh Board of Investment and Korangi Association of Trade & Industry (KATI) on Thursday here at KATI. On this occasion Chairperson of SBI Naheed Memon said that such mutual efforts of public private sector were a need of time to build cooperation to bring investments in the province. She said that we are looking forward for a productive collaboration between SBI and KATI.
Prior to this President of KAT welcomed the delegation of SBI headed by Chairperson Naheed Memon with DG SBI Manzoor Ali Shaikh, Director Administration Abrar Ahmed Shaikh, Director Projects Abdul Azeem Uqaili and others along with Senator Abdul Haseeb Khan, Farukh Mazhar, Zubair Chhaya, Rashid Siddqui, Umer Rehan and other office bearers of the association at KATI.
He briefed SBI team about Korangi Industrial Area and emphasized to speed up industrialization process in rural areas of Sindh. Naheed Memom told the gathering that SBI is working closely with the provincial government to bring investments for business and industrial ventures in rural Sindh and agribusiness is our prime focused. She told that CPEC projects have been entered in next phase where collaboration between local and Chinese Industries will be expected on large scale. She said that I have no doubt on it that CPEC would prove a “game-changer” venture for the region and our country.
On this occasion Masood Naqi said that share of Sindh in national revenue is declining every year which indicates engraved situation of industry in the province. He said that increasing trade deficit and declining exports is now become the largest challenge for our economy. He urged to focus on agribusiness opportunity and especially on food processing business in rural Sindh. Masood Naqi observed that there is a lot of potential in Sindh, yet to be explored, to bring investment and industrialization. He also said that southern bypass is a long awaited project, which can facilitate transportation of goods and other industrial movement without disturbing the city roads; we accept Sindh government would design and allocate funds for this project on priority basis. Chairman KATI’s Standing committee on Industrial investments and standardization Farukh Mazhar said that this MoUs and such understandings should be taken serious by government agencies, because only the public-private partnership endeavors can bring investor to the land. Senator Abdul Haseeb Khan said that SBI should also play it part for social welfare projects, those are well defined in its provisions. After the meeting signing ceremony was held.
Caption: President KATI Masood Naqi and DG SBI Manzoor Ali Shaikh exchanging singed copies of MoU while Chairperson SBI Naheed Memon, Senator Abdul Haseeb Khan, Farukh Mazhar, Zubair Chhaya, Umer Rehan and others were present on this occasion.