Karachi Businessmen to invest in CPEC projects Gwadar
Sadiq Sanjarani urged Karachi businessmen on Friday to extend their operations by establishing industrial export plants in Gwadar and other parts of Balochistan and to invest in CPEC projects. The Senate chairman, speaking to the business community at the Karachi Chamber of Commerce and Industry (KCCI), said Gwadar port is quickly becoming a trading hub as development work in the port city accelerates. He urged Karachi businessmen to invest in the Gwadar Port and the China-Pakistan Economic Corridor. He noted that Chinese investors are constantly flocking in Gwadar to construct up industrial enterprises. After Islamabad, Gwadar is the only city being constructed under a master plan that aims to provide all basic services. Senator Sanjarani added that the town’s power supply would be connected to the national grid this fiscal year, and that “construction work at Gwadar Port is at an advanced stage, followed by rapid development in the industrial region. Aside from Gwadar port, the province of Balochistan’s fundamental infrastructure is under expansion including the development of a number of roads to support industrial and commerce activity.
Zubair Motiwala, Chairman of the Karachi Businessmen Group, said that Karachi’s infrastructure was in a bad state. KCCI would want to provide a presentation on Karachi because other cities in the country are flourishing while Karachi is struggling. Karachi accounts for 52% of the country’s exports and pays more than 60% of the country’s taxes, but the port city continued to experience significant challenges and injustices. The city needs more finances for Karachi’s growth and to address the city’s unresolved concerns.