Special Discounts for KATI Members on Administrator’s Recommendations – PEZDMC Chief
KARACHI: The Administrator of the Pakistan Economic Zone Development and Management Company (PEZDMC), Brigadier Muhammad Asad, has announced that the Malir Industrial Park (MIP) is set to fast-track industrial development and contribute to economic stability in Karachi. During his visit to the Korangi Association of Trade and Industry (KATI), he revealed that land allotments in the industrial park would be finalized within 48 hours, offering easy payment terms and installment plans for industrialists. The initiative aims to create over 200,000 jobs in its first five years.
The session saw the participation of key figures, including KATI President Junaid Naqi, Deputy Patron-in-Chief Zubair Chhaya, Gulzar Feroz, SM Yahya, Ehteshamuddin, and Saleem-uz-Zaman, alongside PEZDMC officials, such as Brigadier (R) Aamir Nazir Malik, Director Col. Atif Zia, Advisor Imran Siddiqui, and AD Marketing Lt Col (R) Abid Ali.
Brigadier Asad confirmed that KATI would be part of the advisory council for the Malir Industrial Park, ensuring that stakeholders have a voice in its development. He emphasized the importance of a one-window operational model to streamline processes for both industrialists and investors, allowing them quick access to essential facilities.
He also highlighted that the industrial park would feature uninterrupted utilities, reliable infrastructure, and enhanced security systems, differentiating it from other zones in Karachi. “We will incorporate KATI’s recommendations into the master plan, making it an exemplary industrial zone,” Brigadier Asad added.
KATI President Junaid Naqi praised the initiative, pointing out that industrialization is vital for Pakistan’s economic stability. He emphasized that the establishment of new industrial parks would drive exports, reduce imports, and create employment opportunities, directly benefiting the national economy. However, he also stressed the need to address infrastructure issues in existing industrial zones, such as Korangi, which still face challenges with electricity, water, gas, and sewage.
Naqi further stressed the importance of supporting Small and Medium Enterprises (SMEs), which he described as the backbone of sustainable industrial growth. “Industrialization cannot thrive without SMEs and cottage industries. A public-private partnership model is key to ensuring the success of such initiatives,” Naqi said.
Deputy Patron-in-Chief Zubair Chhaya echoed these sentiments, stating that Pakistan’s economy could not grow without robust industrialization. “Industries are critical to generating employment and significantly contributing to national revenue,” Chhaya remarked.
He pointed to the success of the Sunder Industrial Estate in Punjab, initiated by KATI Patron-in-Chief SM Tanveer, and urged authorities to learn from the challenges faced by the Korangi Creek Industrial Park, where delays in land allotment and utility provision have stunted progress. “Karachi, being Pakistan’s business hub with its key port, plays an essential role in reducing transportation costs. Efficient industrial activity in the Malir Industrial Park will benefit not only Karachi but the entire country,” Chhaya concluded.
Former KATI presidents and chairmen, Ehteshamuddin and SM Yahya, also addressed the event, lending their insights into the project’s potential impact.