Oversight panel reviews Rs9.28b industrialupgrade package

Mayor says funds transferred directly to associations, industrial zones

KARACHI:

The city's industrial zone associations have started executing the Rs9.281 billion special development grant allocated by Chief Minister Murad Ali Shah for rehabilitation and upgradation of all major industrial estates.

The sixth review meeting of the Oversight Committee was held at the commissioner's office on Thursday with Mayor Murtaza Wahab in the chair, where progress on the mega development package and implementation of schemes by the respective Industrial Zone Development Management Companies came under review.

Representatives from various trade associations and industrial development management companies briefed the meeting on the current status of projects. The participants were informed that work orders for multiple schemes have already been issued, while remaining projects are in the final stages of procurement and will kick off within the next few days.

Addressing the gathering, Mayor Wahab termed the initiative a reflection of the provincial government's unwavering commitment to strengthening Karachi's industrial base and providing world-class infrastructure to the business community.

"For the first time in history, the entire development grant amount has been transferred directly to the industrial zones' associations, empowering them to execute projects according to their own priorities without facing the bureaucratic red tape," he said.

He added that under this unique model, industrial associations have been given full authority to ensure independent implementation and timely completion of projects.