KARACHI: Brigadier Muhammad Asad, the Administrator of the Pakistan Economic Zone Development and Management Company (PEZDMC), announced plans for the Malir Industrial Park (MIP) during a visit to the Korangi Association of Trade and Industry (KATI). The park aims to jumpstart industrial activity and foster economic stability in Karachi.
Brigadier Asad revealed that land allotment for the industrial park will be finalized within 48 hours. This swift process offers industrialists flexible payment terms and installment options. The project is set to create over 200,000 jobs in its first five years, boosting the local economy significantly.
The meeting included notable attendees such as KATI President Junaid Naqi and Deputy Patron-in-Chief Zubair Chhaya. Other prominent figures included Gulzar Feroz, SM Yahya, Ehteshamuddin, Saleem-uz-Zaman, and PEZDMC officials like Secretary Brigadier (R) Aamir Nazir Malik and Director Col. Atif Zia.
Brigadier Asad confirmed that KATI would join the advisory council for Malir Industrial Park. This inclusion aims to ensure effective input from stakeholders. He emphasized the importance of one-window operations, which will streamline processes for industrialists and investors. This approach will provide quick access to essential facilities.
Asad highlighted that the industrial park will feature reliable infrastructure, water supply, and utilities, setting it apart from other zones in Karachi. He also mentioned plans to upgrade security systems to create a safe environment for businesses to operate freely.
“We will incorporate KATI’s suggestions into the Malir Industrial Park’s master plan, making it an ideal industrial zone,” Brigadier Asad said.
KATI President Junaid Naqi praised the initiative, stating that industrialization is vital for Pakistan’s economic stability. He argued that new industrial parks will enhance exports, lower imports, and generate employment, directly benefiting the national economy.
However, Naqi pointed out existing issues in industrial areas, such as Korangi, where infrastructure, electricity, water, gas, and sewage services are lacking. He stressed the importance of accommodating Small and Medium Enterprises (SMEs) for sustainable growth.
“Industrialization cannot thrive without SMEs and cottage industries. A public-private partnership model is crucial for the long-term success of these initiatives,” Naqi stated.
Zubair Chhaya echoed Naqi’s sentiments, asserting that Pakistan’s economy cannot progress without industrialization. He emphasized that industries generate employment and significantly contribute to the country’s revenue.
Chhaya cited the success of Sunder Industrial Estate in Punjab, initiated by KATI Patron-in-Chief SM Tanveer. He urged authorities to learn from the challenges faced by Korangi Creek Industrial Park, particularly regarding delays in land allotment and utility provision.
“Karachi is the business hub of Pakistan. With its port, it plays a key role in reducing transportation costs. Efficient industrial activities in Malir Industrial Park will benefit not only Karachi but the entire country,” he concluded.
Former KATI presidents and chairmen Ehteshamuddin and SM Yahya also contributed to the discussions.
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