Govt allots 1500 acres land for SEZ

Karachi: Federal Minister Makhdoom Khusro Bakhtyar Thursday said “Karachi is the country’s largest industrial city where availability of industrial land has been a problem.”

The Ministry of Industries and Production has allotted 1500 acres of land for Special Economic Zone, the minister said during his visit to National Industrial Park.

He said Special Economic Zone would provide one window operation to domestic and foreign investors.

Khusro Bakhtyar said Karachi Industrial Park will be established at a cost of Rs. 7 billion which will help boost the country’s industrial production and exports.

The Management of Pakistan Industrial Development Corporation on the occasion briefed the federal minister about Special Economic Zones.

Khusro Bakhtyar was told that 278.5 acres of land has been allotted for National Industrial Park. A total of 22 domestic and foreign companies have invested in National Industrial Park.

Later, Federal Minister for Industries and Production Makhdoom Khusro Bakhtyar also visited Pakistan Steel Mill.

Minister said the government is going to privatise PSM in order to make it more profitable and to meet steel requirements of the county amid growing construction industry.

Khusro Bakhtyar said the government will soon formulate a comprehensive steel policy to revamp steel industry in the country.