Sindh govt approves technology park at NED, Marble City project
Both the projects to be run under the public private partnership model
The university also plans to offer new postgraduate programmes, including mechatronics and earthquake engineering. PHOTO: FILE
KARACHI:
The Sindh government approved the establishment of a state-of-the-art technology park at NED University of Engineering and Technology and the construction of Karachi Marble City. The two projects were approved during a meeting on Sunday of the public-private partnership policy board. The meeting - headed by Sindh Chief Minister Murad Ali Shah - decided that both the projects would be run under the public-private partnership model.
In collaboration with NED University, the provincial government plans to build a 20-story building where professionals and experts of information technology (IT) would set up businesses and thereby create employment opportunities. The state-of-the-art technology park building is proposed to be completed by 2021 at an estimated cost of Rs12 billion. IT companies would be able to rent offices in the building at 30 per cent less rent and with logistical support.
Karachi Marble City is to be built on 300 acres of land near the Northern Bypass. The meeting decided that investors from the marble industry would be encouraged so that value-added marble, granite, and other stones may be produced.
Another 200 acres of land, adjacent to the marble city, is to be reserved for industries related to the construction sector while a feasibility study for the sector would be conducted before the project's development.
Besides, under Special Economic Zones Act 2012, the investors of both the projects could avail exemption from Income Tax and Customs duty on the import of machinery for 10 years as the projects would hold 'special economic zone' status.
Published in The Express Tribune, July 24th, 2019.
The Sindh government approved the establishment of a state-of-the-art technology park at NED University of Engineering and Technology and the construction of Karachi Marble City. The two projects were approved during a meeting on Sunday of the public-private partnership policy board. The meeting - headed by Sindh Chief Minister Murad Ali Shah - decided that both the projects would be run under the public-private partnership model.
In collaboration with NED University, the provincial government plans to build a 20-story building where professionals and experts of information technology (IT) would set up businesses and thereby create employment opportunities. The state-of-the-art technology park building is proposed to be completed by 2021 at an estimated cost of Rs12 billion. IT companies would be able to rent offices in the building at 30 per cent less rent and with logistical support.
Karachi Marble City is to be built on 300 acres of land near the Northern Bypass. The meeting decided that investors from the marble industry would be encouraged so that value-added marble, granite, and other stones may be produced.
Another 200 acres of land, adjacent to the marble city, is to be reserved for industries related to the construction sector while a feasibility study for the sector would be conducted before the project's development.
Besides, under Special Economic Zones Act 2012, the investors of both the projects could avail exemption from Income Tax and Customs duty on the import of machinery for 10 years as the projects would hold 'special economic zone' status.
Published in The Express Tribune, July 24th, 2019.