Balochistan Can Be A Global Business Gateway, Says Commerce Minister

Federal Minister for Commerce Jam Kamal Khan on Friday emphasized Balochistan’s strategic importance as a global business gateway during a meeting with officials and members of the Quetta Chamber of Commerce and Industry (QCCI)

ISLAMABAD, (UrduPoint / Pakistan Point News - 6th Dec, 2024) Federal Minister for Commerce Jam Kamal Khan on Friday emphasized Balochistan’s strategic importance as a global business gateway during a meeting with officials and members of the Quetta Chamber of Commerce and Industry (QCCI).

Speaking to the media and business community, he outlined the province’s potential as a hub for trade with Central Asia and Europe, facilitated by its geographical advantages and natural resources.

The minister highlighted Prime Minister Shehbaz Sharif’s dedicated focus on Balochistan’s development, stressing that inclusive growth and robust economic planning are critical for the province’s economic prosperity.

“Without economic development, we cannot achieve sustainable prosperity in Balochistan. We need to move beyond superficial Public Sector Development Programs (PSDP) and initiate projects that benefit all,” he said.

Jam Kamal pointed out the need for enhanced infrastructure in Balochistan’s industrial zones, citing the lack of basic facilities like water, electricity, and gas as major obstacles to industrial growth.

He noted that while Hub Industrial Zone near Karachi has flourished, others, such as the Quetta Industrial Zone and the Bostan Special Economic Zone, remain underutilized.

He called for urgent attention to establish projects like expo centers, special economic zones, and border markets.

The minister also addressed challenges related to ownership of industrial and trade initiatives post-18th Amendment, urging provincial representatives to take proactive measures.

He stressed the importance of export promotion and collaboration between federal and provincial governments to create a conducive environment for businesses.

The QCCI leadership, including President Muhammad Ayub Mariani and other officials, shared specific concerns, such as maintaining tax exemptions for exporters and importers, addressing land disputes at the Bostan Special Economic Zone, and ensuring proper infrastructure for the export center.

They also called for measures to improve trade relations with neighboring countries like Iran and Afghanistan, including organizing a trilateral trade exhibition.

In response, Jam Kamal assured the business community of the federal government’s support. He highlighted ongoing efforts such as reviving the domestic commerce policy, promoting small and medium-sized enterprises (SMEs), and enhancing collaboration with the Trade Development Authority of Pakistan (TDAP).

“Balochistan holds immense transit potential and is a vital link for global trade routes. However, economic growth requires collective effort from all stakeholders. Without industrial development, challenges like unemployment and reliance on government jobs will persist,” he added.

The event concluded with the QCCI presenting a commemorative shield to the federal minister in recognition of his efforts to support Balochistan’s business community.