The federal government is close to finalizing the incentive package and land lease model for the Karachi Industrial Park as it seeks to accelerate industrial investment and attract export-orientated businesses.
Federal Minister for Economic Affairs Ahad Cheema chaired a meeting on Thursday to review progress on the industrial park, where officials discussed the proposed land lease model and incentive framework ahead of its planned early launch.
Cheema said the government was focused on speeding up development of the Karachi Industrial Park and ensuring that industrial units become operational as soon as possible.
He stressed that the framework should give priority to export-oriented industries, with land allocation and incentives tied to clearly defined export commitments. He said the approach would help ensure that the project supports growth in the country’s exports.
Officials reviewed several development and investment models, including a proposed land lease package offering competitive incentives to attract industrial investors while linking land allocation and concessions with export commitments.
Cheema said the Karachi Industrial Park should contribute to broader economic objectives, including higher exports, industrialization and productive use of available land.
Officials also briefed the minister on proposals to prioritize industrial units with significant export potential, particularly businesses expected to export more than 50 percent of their production. According to the briefing, the proposed framework will focus on facilitating industries whose output is largely intended for export.
