Honourable guests, Ladies and gentlemen
It is great privilege and honour to witness the groundbreaking ceremony of Procter & Gamble Manufacturing Plant at Port Qasim. Procter & Gamble is a giant in household products. It was the first company to advertise nationally direct to consumers and sponsored radio and television dramas back in 1880. P&G became the world’s #1 advertiser through advertising expenditure amounting to $ 9.4bn in 2007. Today its operations are running in over 130 countries directly employing around 0.14 million employees of diversified races and origins.
P&G manufacturing plant at Port Qasim, over an area of 25 acres of land, a large scale state-of-the-art plant, will be the largest P&G fixed investment in Pakistan. Based on the highest global standards, it will bring FDI amounting to US $ 100 million in the country which Pakistan is desperately looking for. Foreign Direct Investment in Pakistan by P&G is greatly appreciated. FDI brings multifold benefits in its fold. It not only helps in creating a capital formation but value adding the national economy through creation of employment opportunities , development of allied and parallel industries but increasing revenue stream through sales tax, custom duties and other prevalent charges.
I have been told that through development of P&G manufacturing plant at Port Qasim, around 7000 direct and indirect job opportunities shall be created. Revenue Increase to GOP is expected by US$ 100 million annually trough different leviables i.e
sales tax, custom duty etc. Besides through local production, saving is estimated at US$ 75 million per annum, which country is importing otherwise.
As Chairman of Port Qasim Authority, the 2nd deep sea port of Pakistan, I assure you my full support and assistance. I may tell you that today, we are catering for around 42% of the total seaborne trade of Pakistan. Currently we are handling biggest vessels of over 300 meters length ever berthed at Pakistani ports. For capacity building we are also undertaking nine development projects in private sector. With the completion of these projects in 2011/12, ports handling capacity shall be 85 million tonnes per annum, parallel to any international port. We are also striving for deepening of Navigational channel for all weather 14 meters draught vessels. We are also determined to facilitate the investor at PQA to bring about Foreign Direct Investment like P&G . PQA renders the most competitive and lucrative land offers for development of industrial and commercial complexes at PQA.
We plan to do a lot more. We are undertaking development of Infrastructure facilities i.e. roads, water, sewerage and drainage at a cost of Rs. 22 billion. The physical work is expected to commence shortly.
I feel gracious to be part of this groundbreaking ceremony. I thank the management of P&G for inviting me to this congenial ceremony.
Pakistan – Paindabad