Sindh, fed govts agree to establish Special Economic zone on remaining steel mills land Steel Mill to be revitalized: CM

KARACHI: Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Industries & Production Rana Tanveer, in their meeting at CM House, discussed the revival of the Pakistan Steel Mill plan and the establishment of a Special Economic Zone on the remaining land.

The meeting was attended by Provincial Minister Industries Jam Ikarm Dharejo, Chief Secretary Asif Hyder Shah, PSCM Agha Wasif, Secretary Industries Yasin Shar, and the Federal Minister was assisted by Federal Secretary for Industries Saif Anjum and his team.Expansion: MISI purchases shares of Aisha Steel Mills

The chief minister said that the proposed Special Economic Zone project was discussed in the cabinet on May 30, 2024. He added that his cabinet proposed the federal government establish the Special Economic Zone (SEZ) on the extra land of Pakistan Steel Mill.

Murad Shah said that his cabinet was of the view that the 700 acres of land earmarked for the Pakistan Steel Mills plant should be kept intact for the revitalisation of the Steel Mills Plant or setting up a new Steel Mill, any additional requirement of land for the purpose should be worked out mutually. At this, Federal Minister Rana Tanveer proposed that the Federal Government was ready to allow the Provincial Government to revive the old steel mill plant or install a new one on its 700 acres.

The CM said that the 4,840 acres of land may be utilized to set up SEZ for the federal and provincial government. Rana Tanveer said that the federal government from its resources would start developing the SEZ to be given to Chinese investors.

Murad Shah said that the SEZ was located close to the sea, and its infrastructure was in place along with necessary water and gas facilities. He added that these facilities would be enough to make the SEZ one of the best zones in the country.

The Provincial and Federal governments agreed to complete the paperwork at the earliest so that the zone could be established promptly.

The Special Economic Zone would generate employment opportunities and contribute to the country’s economy. The CM said he, with the support of the federal government, would make all-out efforts to revive Pakistan Steel Mills on PPP mode so that this national asset could be utilized for employment and economic development. Murad Shah said that his government was working hard to strengthen the agro-economy by introducing cropping patterns, strengthening and reviving the industrial sector, and providing technical education to the youngsters. This is to generate a technical and non-technical workforce to accommodate them in the growing industrial sector.