Press ReleaseMinister proposes tax-free zone at Port Qasim

Minister proposes tax-free zone at Port Qasim

Says it will help boost investment, benefit Pakistan and Japan

Pakistan possesses a massive potential in the fields of human resources, fisheries, cheap labour and agriculture, remarked Federal Minister for Maritime Affairs Syed Ali Haider Zaidi.

In a meeting with Japanese Ambassador Wada Mitsuhiro at the Ministry of Maritime Affairs on Wednesday, he proposed the establishment of a tax-free zone at Port Qasim for a period of 10 years and hoped that it would help boost investment and development of both the nations. Matters of mutual interest were discussed in the meeting, said a press release.

The federal minister highlighted the opportunities present in the maritime sector of Pakistan, which could also benefit Japan. “The vision of blue economy is set to open new corridors to boost the development of Pakistan,” he said. “This area also offers several investment opportunities to Japan.”

Zaidi assured the Japanese envoy of full assistance from Pakistan and talked about the importance of recent developments at Gwadar and Port Qasim. He apprised the envoy of the projects that were being developed at Port Qasim including a scheme worth approximately $150-200 million.

“The government of Pakistan will announce the construction of three more terminals over the next two months that will open massive investment opportunities for Japan,” he said.

The minister also discussed the potential of tuna export to Japan. “Pakistan has a huge potential for tuna export to Japan, which is one of the biggest consumers of the fish in the world.”

It would prove fruitful for both the economies, he hoped. Both sides agreed to maintain close coordination in future as well.

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