KARACHI - Sindh Governor Muhammad Zubair has said that Karachi was in the grip of violence in 2013 and considered to be a dangerous city. “The situation not only brought foreign investment to a halt, but also forced the local investor to halt all activity in the city. The federal government, keeping in view the situation, took all stakeholders of the city on board and announced launch of a targeted operation against the elements disrupting peace of the city. It was a tough decision, but the people witnessed good results. It not only provided relief to citizens, but also provided an atmosphere to businesses and traders to carry out their activities in Karachi without any fear. Today the situation has changed altogether and peace in the port city has been restored. Karachi is witnessing various activities, including foreign and local investment besides literary, social and cultural activities,” the governor said while addressing a ceremony organised by Al-Haj Group and South Korean automobile Hyundai here on Sunday.

Senator Nehal Hashmi, South Korean Counsel General King Dong Jee and others were also present on the occasion.

The governor said that Pakistan was moving towards economic stability day by day and positive economic indicators and rise in foreign investment had stabilised the economic situation. He said that foreign investment and economic, industrial, literary and cultural activities had returned to the city after return of peace to Karachi. He said that more employment opportunities had been created through active role of the private sector. He said that cooperation and trade and economic activities between Pakistan and Korea were in the interest of both nations and the alliance between Hyundai and Al-Haj Group was a step in the right direction.

Speaking on the occasion, CEO of Al-Haj Hyundai Pvt Ltd Bilal Khan Afridi said, “The joint venture with Hyundai Motors is a wonderful business opportunity for both companies and will not only provide employment opportunities, but also upgrade the standards of Local Commercial Product segments with advance technology and high quality products.”

He said that Al-Haj Hyundai also planned to set up a state-of-the-art manufacturing-cum-assembling plant for Hyundai-HCV vehicles. For the plant, the company has already purchased 30 acres of land on the main National Highway near Pakistan Steel. The first phase of the plant will be operational by May 2018. It’s worth mentioning here that Al-Haj Group and South Korean automobile Hyundai have entered into partnership to manufacture top-of-the-line heavy commercial vehicles through a technology transfer contract (TTC) under the subsidy Al-Haj Hyundai Pvt Ltd. In the first phase of the joint venture, Al-Haj Group will produce a heavy duty truck Xcient with different variants, Universe Luxury buses for intercity travel and Mighty medium and light duty trucks.