Karachi Industrial Park approved as federal special economic zone

The Board of Approvals for Special Economic Zones approved Karachi Industrial Park’s application to become a federal special economic zone at its 11th meeting on 23 October 2026. Finance Minister Muhammad Aurangzeb chaired the meeting.

Plans for the zone include employment generation, technology transfer and value addition, alongside attracting export-oriented industrial investment. Eligibility criteria were also approved by the board for government-funded road access, utilities and other essential facilities up to the designated zero point of privately established zones. Requests under the framework will be considered case by case under the Special Economic Zones Act, 2012.

The board also approved a Land Lease Policy for public-sector special economic zones and industrial estates in Punjab. The policy provides for long-term leasing to reduce upfront land costs and promote the use of public-sector industrial land.