Karachi: “Karachi is the country’s largest industrial metropolis, where availability of industrial land has been a problem,” said Federal Minister Makhdoom Khusro Bakhtyar on Thursday.
During his visit to the National Industrial Park, the Minister of Industries and Production announced that the Special Economic Zone has been allocated 1500 acres of land by the Ministry of Industries and Production.
He said that the Special Economic Zone will offer domestic and international investors a single point of contact. According to Bakhtyar, the Karachi Industrial Park would cost Rs. 7 billion and will assist improve the country’s industrial production and exports.
About this occasion, the management of the Pakistan Industrial Development Corporation briefed the federal minister on Special Economic Zones. National Industrial Park has been given 278.5 acres of land, according to Bakhtyar. The National Industrial Park has attracted 22 domestic and international firms.
The government plans to privatise PSM in order to make it more lucrative and to satisfy the county’s steel needs as the building sector grows, according to the minister. Bakhtyar stated that the government would soon draught a comprehensive steel policy to revitalise the country’s steel sector.