This letter refers to the news report ‘SIFC decides to scrap PSM’ (August 10, 2024). According to the report, the Special Investment Facilitation Council (SIFC) has decided that the loss-bearing Pakistan Steel Mills should be scrapped. Now, the Sindh government will allow the usage of PSM land for general industrial purposes and the establishment of an export processing zone (EPZ) or special economic zone (SEZ).
As a business initiative, I wish to propose that a significant portion of the land owned by PSM should be earmarked for a state-of-the-art IT Processing Zone, where cutting edge tech firms and establishments could set up camp to process and promote our IT exports and help train the future IT workforce. We must focus on our agriculture and IT industries. By doing so, we could enable our stagnant economy to generate billions of dollars in additional economic activity, exports, jobs, and taxes.
Abbas R Siddiqi
Lahore
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