Incentives for industrial park near finalisation

Federal Minister for Economic Affairs Ahad Cheema on Thursday chaired a meeting to review the development of Karachi Industrial Park, with particular focus on the proposed land lease model and incentive framework, aimed at attracting export-oriented industries and accelerating industrial investment, which were nearing finalisation ahead of the planned early launch.

The minister expressed the government's commitment to expediting the development of Karachi Industrial Park and making industrial units 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 export growth.

The meeting examined various development and investment models, including a proposed land lease package designed to attract industrial investment through competitive incentives while linking land allocation and concessions to export commitments.

Ahad Cheema said the development of Karachi Industrial Park should be aligned with the country's broader economic objectives, particularly export enhancement, industrialisation and productive utilisation of available land.

During the meeting, officials briefed the minister on proposals to prioritise industrial units with strong export potential, particularly those expected to export more than 50% of their production. They highlighted that the proposed framework would focus on facilitating industries whose output was predominantly export-oriented.