Karachi Industrial Park approved as federal SEZ
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Friday chaired a meeting of the Board of Approvals (BOA) for Special Economic Zones, which approved the Karachi Industrial Park (KIP) as a Federal Special Economic Zone (SEZ). It also cleared two policy measures aimed at facilitating industrial investment and the effective use of industrial […]
Islamabad, October 24th, 2026 - The federal government has officially designated the Karachi Industrial Park (KIP) as a federal Special Economic Zone (SEZ). This decision, made at the 11th meeting of the Board of Approvals for SEZs, aims to draw export-oriented industrial investment, spur technology transfer and value addition, and generate employment opportunities.
Chaired by Finance Minister Muhammad Aurangzeb, the board deliberated on initiatives to streamline industrial investment, enhance infrastructure provision, and ensure efficient use of industrial land.
The board's approval of KIP as a federal SEZ underscores its role in attracting export-driven industrial investment, fostering technology exchange, and fostering job creation. The move is part of a broader strategy to bolster the investment climate, stimulate industrialization, and optimize the use of public resources and industrial land.
Additionally, the board endorsed the General Eligibility Criteria for privately operated SEZs, outlining government-funded provisions for utilities and related services up to the designated zero point. This framework facilitates the allocation of critical infrastructure, such as road access, utilities, and other essential facilities, through government funding under the SEZ Act of 2012.
Furthermore, the board approved the Land Lease Policy for Public Sector SEZs and Industrial Estates in Punjab. This policy encourages industrial investment by offering long-term leasing options, thereby reducing upfront land costs and maximizing the utilization of public-sector industrial land. The policy also aims to stimulate investment in key sectors and emerging industries with high export potential, thereby bolstering the nation's economic growth and competitiveness.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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