Karachi Industrial Park approved as federal Special Economic Zone
Karachi Industrial Park SEZ was cleared by the federal Board of Approvals on Friday, with the goal of drawing export-focused investment and new technology to the city.
The government approved Karachi Industrial Park (KIP) as a federal Special Economic Zone at a Board of Approvals meeting on Friday.
The aim is to attract export-focused investment, bring in technology and generate employment.
The board also approved utility and infrastructure criteria for privately established SEZs under the SEZ Act, 2012.
A separate land lease policy for public-sector zones in Punjab aims to cut upfront land costs.
No investment or job figures have been announced yet.