Karachi Industrial Park approved as federal Special Economic Zone
Dawn • • 1 min read
The federal government has designated Karachi Industrial Park as a Special Economic Zone, following a decision at the Board of Approvals for SEZs meeting on Friday. Dawn reported that the approval is intended to draw export-focused industrial investment, support technology transfer and value addition, and create jobs.
The board also set eligibility criteria for government-funded roads, utilities and related services up to the entry point of privately established zones. Applications for such facilities will be assessed individually under the SEZ Act, 2012.
Separately, the board approved a land lease policy for public-sector zones and industrial estates in Punjab. It aims to lower initial land costs through long-term leases and encourage investment in industries with export potential.
At a glance
- Karachi Industrial Park was approved as a federal Special Economic Zone.
- Government-funded infrastructure for private zones will be considered case by case.
- Punjab public-sector industrial land will be offered under a long-term lease policy.
Originally reported by Dawn
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