Islamabad: Minister for Privatisation and Investment, Abdul Aleem Khan, announced on Saturday, November 2, that Karachi Industrial Park will be designated as a model Special Economic Zone (SEZ). Additionally, one SEZ will be handed over to China on a trial basis, as directed by the prime minister.
Karachi Industrial Park, spanning over 1,500 acres of Pakistan Steel Mills land, is one of nine SEZs being developed under the China-Pakistan Economic Corridor (CPEC). Aleem Khan chaired a meeting of a focal group, established by the prime minister, to monitor SEZ progress nationwide, address challenges, and explore solutions for enhancing industrial development.
The minister emphasized the need for special incentives to ensure SEZs’ success. “Karachi Industrial Park will serve as a model SEZ, but several steps need to be finalized, including the trial handover of one SEZ to China,” he stated.
Khan noted that industrial zones, despite their potential, have faced years of neglect and suffer from multiple challenges. Immediate measures are required to address these issues, enabling the zones to effectively drive industrial growth in Pakistan.
To attract industries to these zones, the government is working on introducing special privileges, moving beyond traditional approaches. Aleem Khan directed the focal group to prepare final recommendations to expedite the resolution of outstanding issues.
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