AGL 5.77 Decreased By ▼ -0.06 (-1.03%)
ANL 9.05 Increased By ▲ 0.02 (0.22%)
AVN 79.03 Increased By ▲ 0.23 (0.29%)
BOP 5.17 Increased By ▲ 0.01 (0.19%)
CNERGY 4.71 Increased By ▲ 0.03 (0.64%)
EFERT 81.10 Increased By ▲ 0.55 (0.68%)
EPCL 50.53 Decreased By ▼ -1.18 (-2.28%)
FCCL 13.50 Decreased By ▼ -0.11 (-0.81%)
FFL 5.77 Decreased By ▼ -0.08 (-1.37%)
FLYNG 7.19 Increased By ▲ 0.07 (0.98%)
FNEL 4.91 Increased By ▲ 0.06 (1.24%)
GGGL 8.88 Decreased By ▼ -0.02 (-0.22%)
GGL 15.81 Decreased By ▼ -0.24 (-1.5%)
HUMNL 5.95 Increased By ▲ 0.15 (2.59%)
KEL 2.61 Increased By ▲ 0.01 (0.38%)
LOTCHEM 29.81 Decreased By ▼ -0.20 (-0.67%)
MLCF 24.85 Decreased By ▼ -0.55 (-2.17%)
OGDC 72.45 Increased By ▲ 0.30 (0.42%)
PAEL 15.40 Decreased By ▼ -0.09 (-0.58%)
PIBTL 5.09 Increased By ▲ 0.08 (1.6%)
PRL 16.47 Increased By ▲ 0.07 (0.43%)
SILK 1.12 Increased By ▲ 0.02 (1.82%)
TELE 9.62 Decreased By ▼ -0.03 (-0.31%)
TPL 7.30 No Change ▼ 0.00 (0%)
TPLP 19.20 Decreased By ▼ -0.03 (-0.16%)
TREET 21.91 Decreased By ▼ -0.04 (-0.18%)
TRG 145.00 Increased By ▲ 0.03 (0.02%)
UNITY 16.62 No Change ▼ 0.00 (0%)
WAVES 10.05 Increased By ▲ 0.05 (0.5%)
WTL 1.38 Increased By ▲ 0.01 (0.73%)
BR100 4,248 Increased By 18.1 (0.43%)
BR30 15,825 Increased By 2.9 (0.02%)
KSE100 42,247 Increased By 175.8 (0.42%)
KSE30 15,612 Increased By 108 (0.7%)
Follow us

KARACHI: Minister for Industries and Production Khusro Bakhtiar said the government is working on establishing a new industrial park in Karachi on 1500 acres of land.

Addressing media briefing along with Sindh Governor Imran Ismail on Friday, he said seven billion rupees have been allocated for new industrial park project.

Khusro Bakhtiar said the government intends to privatise the Pakistan Steel Mills to revive its full potential.

He said this step is necessary to fulfil the growing need of steel in the country, which is 10 million metric ton at the moment and is projected to grow to up to 20 million metric ton by the year 2024-25.

Federal Minister Makhdoom Khusro Bakhtyar Thursday said”Karachi is the country’s largest industrial city where availability of industrial land has been a problem.”

The Ministry of Industries and Production has allotted 1500 acres of land for Special Economic Zone, the minister said during his visit to National Industrial Park.

He said Special Economic Zone would provide one window operation to domestic and foreign investors.

Khusro Bakhtyar said Karachi Industrial Park will be established at a cost of Rs. 7 billion which will help boost the country’s industrial production and exports.

The Management of Pakistan Industrial Development Corporation on the occasion briefed the federal minister about Special Economic Zones.

Khusro Bakhtyar was told that 278.5 acres of land has been allotted for National Industrial Park. A total of 22 domestic and foreign companies have invested in National Industrial Park.

Later, Federal Minister for Industries and Production Makhdoom Khusro Bakhtyar also visited Pakistan Steel Mill.

Minister said the government is going to privatise PSM in order to make it more profitable and to meet steel requirements of the country amid growing construction industry.

Khusro Bakhtyar said the government will soon formulate a comprehensive steel policy to revamp steel industry in the country.

Copyright Business Recorder, 2021

Comments

Comments are closed.

New ‘industrial park’ to be built in Karachi: Khusro

PD prepares $496m gas pipeline augmentation plan

Intra-day update: rupee registers marginal losses against US dollar

Pakistan receives $500mn from AIIB: finance ministry

Oil jumps on hopes for easing in China’s COVID controls

IMF, govt begin virtual engagement

Dar willing to allow sugar export?

Presidential Reference on Reko Diq project: SC to announce short order next week

Tax-exempted areas: FBR sets up checkposts to monitor supplies

TTP ends ceasefire, orders nationwide attacks

Saudi unveils plan for massive new airport in capital