Government approves Karachi Industrial Park as federal special economic zone

The federal government has designated Karachi Industrial Park as a Special Economic Zone, aiming to draw export-focused investment and support technology transfer, value addition and job creation. Profit by Pakistan Today reported that the decision was taken at the 11th meeting of the Board of Approvals for Special Economic Zones, chaired by Finance Minister Muhammad Aurangzeb in Islamabad on Friday.

The board also set eligibility rules for government-funded infrastructure support to privately developed zones, including access roads and utilities up to their designated zero points, with requests to be assessed individually. Separately, it approved a long-term land lease policy for public-sector zones and industrial estates in Punjab, intended to lower initial land costs and improve use of public industrial land. The Finance Division said the measures are intended to encourage industrialisation, private participation and export-oriented production.