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MQM leaders in London sign MoUs worth US$2 billion

MQM leaders in London sign MoUs worth US$2 billion
 Posted on: 7/11/2012

LONDON/GLASGOW: A high-powered Pakistani delegation has signed 6 memoranda of understanding (MoUs) worth more than $2 billion with business groups and universities in Scotland.


Pakistani delegation led by Governor Sindh Dr Ishrat Ebad and comprised of provincial and federal ministers Babar Khan Ghauri, Pir Mazhar-ul-Haq, Raza Haroon, Faisal Subzwari, Saghir Ahmed, Adil Siddiqui, Karachi administrator Muhammd Hussain Sayyid, and Commissioner Roshan Sheikh signed the MoUs on Tuesday afternoon.


Four contracts were signed between the Scottish business groups, Government and Port Qasim Authority, Karachi Port Trust, Karachi Metropolitan Corporation and Karachi Water & Sewerage Board, ranging from 100 million gallons per day desalination plant to solid waste management etc. These contracts may have capital investment of around $2 billion and were unveiled on Tuesday after Pakistani delegation from Sindh held meetings with the Scottish officials over two days.


Two MoUs were exchanged between the Engineering University of Strathclyde, Glasgow, and NED Engineering University Karachi & Mehran Engineering University, Jamshoro. These will enable the universities in faculties exchange and research programmes.


It is expected that desalination plant will generate revenue of billions of dollars over its lifetime. The Pakistani delegation was busy meeting officials in Scotland yesterday to inform the potential investors and companies of the opportunities that exist in Pakistan. Speaking to The News over telephone from Edinburgh, the Sindh Governor hailed the signing of new contracts and hoped that the people of Karachi will greatly benefit from these deals. “These are breakthrough achievements for us. To fetch business to Pakistan in current circumstances is a difficult task but we have been able to convince the foreign investors that Pakistan is a land of business opportunities.


“There is no better place to start business than the port city of Karachi which is Pakistan’s main gateway. We are ready to facilitate businesses in every possible way.”


Faisal Subzwari told The News that the delegation was keen to learn more about the growth of Scotland’s renewable energy industry and see what can be done to address the crisis of energy in Pakistan. He said: “Since Karachi is facing acute shortage of water to the tune of more than 500 million gallons a day, the provision of 100 million gallons will bring a great relief to the lives of million of Karachiites.”


6/22/2018 2:22:32 AM