PAGE Blog Business Weekly Magazine
An economic hub offers more investment opportunities
While the grapevine at the backyard of the Federation House is ripe amid rumors that local investors have transferred billions of dollars to Malaysia, UAE, Bangladesh, and even Sri Lanka and about 12 home textile manufacturers have already set up industries in Bangladesh, the news that over 65 industrial units are getting ready to lay the foundation of the manufacturing units at Korangi Creek Industrial Park (KCIP), flagship project of National Industrial Parks Development & Management Company (NIP) come as a whiff of fresh air for the dejected business community of the mega city.
This shows that despite the law and order situation in Karachi the two seaports have still not lost its charm as the business hub of this region; all what required is to regain the confidence of the investors by giving them firm surety that their investment would not only be safe but generate enough profit — NIP has done exactly that.
Taking advantage of Karachi’s problems, mainly security, NIP is offering an industrial zone to foreign and local businesses with foolproof security system by the assistance of NADRA. This highly secured biometric attendance system logs all the attendance and entry/exit events and generates user friendly web reports for review by management. NADRA’s Biometric Attendance Control System provides automated time and attendance control, which is designed to facilitate the employees as well as the organisation. Multiple web based reports and email alerts can be generated, which display all the occurred events, processes and desired data. Having a database at the back-end ensures no data loss or duplication and it keeps the visitor or employee record for a longer period of time.
What makes a biometric time clock one of the best time and attendance systems is that it has a biometric fingerprint scanner built-in, which is much more accurate in time keeping against the existing time card or time sheets because employees are not reporting to their duties on time — a common practice in our country. This system will helps prevent time theft and saves money for the company. Another great feature of biometric attendance system is that they could also be used as biometric access control for the building’s security. Companies can restrict access to certain areas of the building so only certain employees can enter by only approving their fingerprints in the access system, a must facility keeping in view the present law and order situation. Biometrics takes advantage of your unique characteristics. Supposedly you are the only one with your fingerprints, voice, retinal patterns, iris, palm print, face, etc. No one else has all your biometric characteristics, but someone could possibly learn your password or steal your smartcard. In that respect biometrics are supposed to be more secure than the other methods.
It may be of some interest to the readers that in UK and USA, the police are equipped with Finger Reader which takes down the impression of the finger and helps in distinguishing one person from another. A large database is maintained and is matched with a person’s finger impression to locate actual criminal. Such a biometric may also be brought to use here in our country for investigating criminal cases. There is no denying of the fact that the criminals in our country go free despite killing people in broad day light.
On the other hand, NIP guarantees uninterrupted power supply through 48 mw captive power plant and availability of essential utilities like water, gas and telecommunication at their doorstep. To keep the extortionist at bay, this industrial zone is restricting the entry of unwanted elements by a boundary wall with electronically controlled entry and exit to the complex, spread over an area of 240 acres at Korangi Creek. Naturally, the genuine businessmen jumped over it because all they wanted was a guarantee that their investment would be safe and profitable. So far, NIP has been able to sell 67 acres amounting to Rs1704 million out of 103 acres of saleable land while a number of applications are still in the pipeline.
As soon as the industrial units, which include consumer, food warehousing/logistics & pharmaceutical, garments/textile, light engineering, packaging & printing established at KCIP start production, this industrial zone alone will start contributing Rs40 billion annually to GDP and provide approximately 30,000 direct and 180,000 indirect employments. The project designed by Jurong Singapore, renowned internationally for their expertise is being developed at an estimated cost of Rs3.3 billion, which will have an investment opportunity of Rs20 billion. The work on this project is at an advanced stage and nearing completion.
So far NIP has been able to complete 2.8 million gallons underground water reservoir, 50,000 gallons overhead reservoir, underground UPVC water distribution network, pumping station along with back-up generator, underground sewerage network with manholes for each plot. On the other hand, 14.7 mmcfd gas has already been sanctioned by the SSGC while KWSB has sanctioned water supply of 3.5 mgd.
The park has zones namely High Rise and Low Density zones. The High Rise will cater to industrial high rise complex including reserved zones for gems and jewellery and information technology while the Low Density will cater to industrial sectors including garments, food processing, printing/packaging and light engineering. The Company will establish its own estate management for the maintenance of the park, its utilities, environment and commercial buildings with a view to satisfy customer’s requirements, so as to sustain the investment goals of estate owners and occupants.
The common features that would be provided in this park to the businessmen include industry clusters with basic business themes, one window operation for all infrastructure facilities, basic utilities such as gas, water and electricity, facilities like commercial complex, cafeteria, medical care, technical and vocational programmes for specific industries, for all stakeholders of the park.
The most important aspect of any industrial estate or zone in the developed world is of course fulfilling the environment standards to ensure pollution-free surroundings to the inhabitants of the adjoining areas. Therefore, it is highly encouraging to note that the Company has taken all measures to ensure a clean environment for the people living within and outside the park. These measures include construction of an effluent treatment plant, storm water drainage system and solid waste management.
NIP, a subsidiary of PIDC, has been tasked to create an investor friendly climate, develop industry clusters with basic business themes, meet international environmental standards and provide turnkey solutions to businesses, keeping in view the models of industrial parks (modern version of industrial estates) being developed in Malaysia and Singapore.
The mission assigned to this Company, established as a public-private partnership, is to create an environment that allows the customers to grow and flourish in the global market. The objectives of the Company include supporting rapid industrialisation in the country by developing new industrial parks and rehabilitate those that might be attracting industrialists for setting up their business in the industrial parks, promoting interaction between the industrialists and the government so as to create an overall conducive industrial environment, providing a platform and act as a catalyst for industries to increase productivity and promoting the creation of jobs in all the provinces of the country.