ISLAMABAD, Sep 17 (APP):Federal Minister for Economic Affairs and Establishment Division Senator Ahad Cheema on Thursday reviewed the proposed land lease and incentive framework for Karachi Industrial Park, which is nearing finalisation ahead of its planned early launch to attract export-oriented industries and boost industrial investment. The Minister expressed the government's commitment to expediting the development of Karachi Industrial Park and ensuring that industrial units become operational at the earliest. …
Karachi Industrial Park lease, incentive framework nearing finalisation
ISLAMABAD, Sep 17 (APP):Federal Minister for Economic Affairs and Establishment Division Senator Ahad Cheema on Thursday reviewed the proposed land lease and incentive framework for Karachi Industrial Park, which is nearing finalisation ahead of its planned early launch to attract export-oriented industries and boost industrial investment.
The Minister expressed the government’s commitment to expediting the development of Karachi Industrial Park and ensuring that industrial units become operational at the earliest.
He stressed that the proposed framework must prioritise export-oriented industries, with land allocation and associated concessions linked to clearly defined export commitments to ensure that the project contributes meaningfully to Pakistan’s export growth.
The meeting reviewed various development and investment models, including a proposed land lease package offering competitive incentives linked to clearly defined export commitments.
Senator Ahad Cheema said Karachi Industrial Park should support the country’s broader economic objectives, particularly export enhancement, industrialisation and productive utilisation of land.
Officials briefed the meeting that the proposed framework would prioritise export-oriented industrial units, particularly those exporting more than 50 percent of their production.
The minister directed that incentives and concessions be tied to measurable export performance, with provisions for their withdrawal and appropriate penalties in case of non-compliance.
The meeting agreed that the land lease and incentive package should remain focused on export-led industrial growth, with accountability mechanisms to prevent misuse of land and incentives.
Officials said a considerable number of industrialists had expressed interest in establishing export-oriented units at the park, subject to suitable incentives and essential infrastructure.
Reviewing infrastructure requirements, Senator Ahad Cheema stressed adequate water and gas supplies and improved road connectivity. He said the federal government would coordinate with Sindh authorities on water supply and the proposed 11-kilometre access road, while the Ministry of Petroleum and SSGC would be engaged on gas supplies.
He assured that the Board of Investment, SIFC, Ministry of Industries and Production and other relevant institutions would provide necessary federal support to resolve outstanding issues.
The minister also stressed productive utilisation of the park’s land to enhance exports and contribute towards reducing Pakistan Steel Mills’ outstanding liabilities.
He directed the authorities to finalise a commercially attractive, performance-based lease and incentive framework to encourage export-oriented manufacturing and ensure the project’s long-term viability.
He emphasised coordinated efforts among federal and provincial authorities and stakeholders to expedite the project and develop Karachi Industrial Park into a productive industrial hub.
The meeting was attended by Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, Director General SIFC, Secretary Law, Secretary SIFC and other senior officials.
