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KARACHI: The CEO of GFS Builders and Developers, Irfan Wahid, has said NTR is preparing a package to provide plots at a discounted price to members of the Korangi Association of Trade and Industry (KATI) in the second phase of the industrial zone.

Investors and industrialists will be given possession on payment of 50 percent of the total price; the remaining 50 percent can be paid in easy instalments.

He said this during a meeting of KATI, Irfan Wahid said the second phase of industrial zone has been approved by the concerned authorities and industrialists will be given possession on easy terms.

He said as promised, possession of 1000 yards plots of the first phase is ready to be handed over within the stipulated period.

Irfan Wahid said Bank Islami has shown interest in the project and industrialists can easily buy plots by getting loans from Bank Islami on easy terms.

CEO, GFS said KATI and we are like a family and its credit goes to Farhan-ur-Rehman. He said the work of KATI Park was delayed which is regrettable, but the project will be completed on Kashmir Day, February 5th.

KATI president said an uninterrupted supply of necessities like electricity, gas and water is indispensable for any industrial area. In this regard, it should be ensured that all facilities are provided to the industrialists in the GFS NTR Industrial Zone.

Faraz-ur-Rehman said KATI will fully cooperate with GFS in the NTR industrial area.

He said it is very important to focus on industrialization in the country and GFS is the only builder who laid the foundation for the establishment of industrial zones keeping in mind the need of the industrialists.

President KATI said that Karachi is the economic hub of Pakistan and establishment of an industrial zone here is pleasant.

He said that GFS should prepare a special discount package for the members of KATI.

Zubair Chayya, CEO KITE Limited said GFS Builders has always supported KATI’s CSR campaign. The relationship between KATI and the GFS is very strong. He said that the price of plots in other industrial areas of Karachi is skyrocketing due to which industrialization is not being promoted.

And there is a dire need for small and medium enterprises including cottage industries to flourish in the country. Zubair Chayya said that KATI’s Park is our dream and we want that project to be completed soon so that more facilities can be provided in Korangi Industrial Area.

NTR Director Aslam Mian Noor said that the project consists of two phases, in the first phase there are plots from 125 yards to 1000 yards for which the infrastructure is ready.

While the second phase covers 400 acres which is close to the CPEC project. He said that to solve the energy problem, an agreement is being made with a Chinese company which will provide electricity there through solar energy.

He said the cost of an industrial plot in Korangi is Rs 3 lakh per yard while we are giving to industrialists at NTR for just Rs 25 thousand per yard.

Industrialists can get possession of the plot by paying 50 percent and the facility of paying the remaining amount in easy instalments will also be provided.

Senior vice president Nighat Awan, vice president Muslim Mohammadi, former president Farhan-ur-Rehman and other members were also present.

Copyright Business Recorder, 2022

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