New Industrial zone in Karachi celebrated

Industrialists have praised the Karachi Development Authority’s (KDA) plan to establish a new industrial zone in Surjani, addressing a long-standing demand for more industrial space in the city. This development aims to support the struggling Small and Medium-sized Enterprises (SMEs) sector and create employment opportunities, vital for the country’s economic growth.

Syed Shujaat Hussain, Director General of the KDA, announced the new industrial zone’s establishment during a meeting with the North Karachi Association of Trade and Industry (NKATI). The zone will be similar to the NKATI and the Federal B Area Association of Trade and Industry (FBATI), focusing on promoting SMEs.

Hussain revealed that approximately 500 industrial plots, ranging from 1,000 to 2,000 yards, have been allocated for the new zone. He highlighted that infrastructure development would begin immediately and encouraged the industrial community to seize this investment opportunity to bolster the country’s economic stability and prosperity.

Speaking to The Express Tribune, NKATI President Faisal Moiz Khan expressed his full support for the initiative, noting that the new industrial zone will be developed within two to three months. He highlighted that the zone would offer affordable prices and proper utilities, addressing a long-overdue demand from industrialists. Khan stated, “The Surjani industrial zone will succeed due to its prime location in Karachi, providing easy access for industrialists without the need to go to remote areas like Nooriabad.”

He also urged the government to ensure all utilities, including water, gas and electricity are offered at lower rates to lift the spirits of investors and industrialists.

FBATI President Syed Raza Hussain welcomed the development of the dedicated industrial zone for SMEs, calling it crucial for fostering economic activities nationwide. He suggested that the government should also allocate land for young entrepreneurs, businesswomen, and the middle class to encourage innovative business ventures.

Hussain stressed the need for the new industrial zone to have comprehensive security and essential utilities and infrastructure. He also called for a soft loan scheme to finance the construction of industrial units, urging the government and banking regulators to support industrial and economic activities rather than speculative real estate investment. He further encouraged local brands to expand their production capacities to meet domestic demand and to develop partnerships with suppliers to reduce dependence on imported raw materials. This initiative, he argued, would significantly benefit the local economy and support sustainable development.

Source: Tribune

https://tribune.com.pk/story/2484329/new-industrial-zone-in-karachi-celebrated