The private sector, both local and foreign, will have a key role to play in the reconstruction of Libya after lifting of sanctions by the United Nations Security Council (UNSC) and United States on Gaddafi’s regime.
The lifting of sanction is aimed to boost the transitional government and allowing it to access at an estimated $150 billion in former regime assets.
Under the project, MEED’s Libya Focus Day 2012, (May 16) is specially designed to bring together the key players from Libya and the private sector to discuss the country’s latest developments and emerging projects opportunities.
Pakistan can fetch export orders worth billions of dollars for marble finished and semi-finished products if the trade commissioners in Pakistan missions in Libya and Iraq are asked to explore new markets for Pakistani marble products.
There is a dire need to explore construction sectors in Arab States, as billions of dollars construction projects with more than $11,000 million marble products are needed, BMG All Pakistan Marble Mining Processing Industry and Exporters Association (APMMPIEA) Chairman Sanaullah Khan said on Wednesday. He said the quantum of marble exports has touched more than $100 million in 2011 as compared to $60 million during same period last year.
“If the load shedding situation persists it will be difficult for the sector to meet $100 million export target in 2012,” he added. Around 200 marble products manufacturing units in the largest marble industrial cluster of the country in Karachi are running at half their capacity, thus incurring a production loss of over Rs 27 million a day.
The Libya’s projects include the services of contractors, consultants and suppliers who are seeking new opportunities in the region. With the petrodollars with which to fund its considerable infrastructure requirements, Libya is now seen as a prime projects market with excellent potential that can offset the increasingly competitive contracting environment in the Gulf Cooperative Countries (GCC).
“From housing and hospitals to roads and railways, there is considerable underdevelopment of existing infrastructure which will require substantial investment in the medium to long-term,” a spokesman of MEED said. In the short run, the emphasis will be on completing existing schemes and ensuring the nation’s hydrocarbons and utilities infrastructure is operating at sufficient capacity,” said MEED head Ed James.
Libya National Transitional Council Deputy Chairman Dr Mustafa El-Huni will speak on perspectives on new Libya and the prospects and challenges.
(Source: Daily Times)