Karachi industrial park to be declared model special economic zone
ISLAMABAD: Minister for Privatisation and Investment Abdul Aleem Khan said on Saturday that Karachi Industrial Park will be declared a model special economic zone (SEZ), while one SEZ would be handed over to China on a trial basis as desired by the prime minister.
Karachi Industrial Park is one of the nine special economic zones being developed throughout the country under the China-Pakistan Economic Corridor (CPEC). Karachi Industrial Park spreading over 1,500 acres is being developed on Pakistan Steel Mills land.
Aleem Khan chaired a meeting of the focal group formed by the prime minister for the progress of industrial zones in the country. The group reviewed the development on the special economic zones and the problems being faced the SEZs, and measures to resolve the issues.
The minister observed that special incentives are mandatory for these SEZs. While Karachi Industrial Park will be declared a model SEZ, “we have to finalise many steps, including handing over one special economic zone to China on a trial basis”, he said.
Aleem Khan said industrial zones have the potential to promote industries in the country which should have been fully benefited, but unfortunately for the last several years, industrial zones across the country have been neglected badly and these centers are suffering from various difficulties and problems to deal with for which measures have to be taken on an emergency basis.
Aleem Khan issued directives to ensure provision of special incentives and facilities to the industrial zones and approved the preparation of final recommendations by the Focal Group so that the pending issues could be resolved expeditiously.
He further said that new industries will be established only if special privileges are given in these industrial zones by leaving the traditional old practices.
Secretaries for energy, industry and investment and other senior officials participated in the Focal Group meeting, and presented updates on the industrial zones.
It was also decided that the full agenda will be discussed and finalised in the next meeting of the Focal Group and important decisions will be approved to ensure speedy development in all industrial zones.
Published in Dawn, November 3rd, 2024