KARACHI - Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi has appreciated the role of Export Promotion Zones Authority (EPZA) in promotion of industrialisation and exports, hoping that EPZA will do more in this regard in future.

The federal government had taken very important and practical steps including aggressive economic diplomacy to boost exports and attract maximum investment in the country, he said.

The minister was speaking during his visit to Karachi Export Processing Zone (KEPZ) on Wednesday to see infrastructure development activities at KEPZ’s phase three after successes stories of the phase one and two, which had attracted huge local and foreign investment. “Large number of export-oriented industrial units were successfully operating over last couple of decades and had given a boost to the country’s exports,” the minister said.

EPZA chairman Dr Muhammad Khawar Jameel, Director Investment and Promotion Muhammad Din Chakrani, Engr Nasir Hidayat, Malik Abdul Aziz and other senior officers welcomed the minister.

Jatoi expressed satisfaction over the development work at phase-III of KEPZ including the pace of construction of protection wall around 80 acres developed land. Around 200 acres of land had been earmarked for phase III.

The 3.5 kilometers long boundary wall would be completed by the end of this month at the cost of around Rs 39.519 million.

Chairman EPZA briefed the minister about the development activities at phase-III and informed that KEPZ was being expanded after great interest and demand by local and foreign investors. The minister had laid the foundation stone of phase-III in September 2015.

EPZA Director Investment and Promotion Muhammad Din Chakrani and Engr Nasir Hidayat briefed the Minister that KEPZ’s phase-I and II were fully occupied by local and foreign investors.

EPZA has also signed a joint venture with Faisalabad Industrial Estate Development and Management Company (FIEDMC) to establish new zone at M-3 industrial city.

The federal minister said that the government was very serious in development of Gwadar Export Processing Zone and the work was going on fast track.

An advisory committee in this regard had already been formed. It had approved the development of 1,000 acres of land; 50 percent on BOT and 50 % on government funding.

He said the development of Gwadar and the execution of China-Pakistan Economic Corridor (CPEC) would bring socio-economic change not only in Balochistan but entire country, rather in the region. He directed the EPZA management to do their best to provide incentives and facilities to local and foreign investors at all export.