Sindh government has approved two mega projects for Karachi under the public private partnership (PPP) the industrial one is to set up a technology park in NED University and the business project is “Karachi Marble City”.
Pakistan’s government imagining its vision among 25 worldwide economy by 2025 and is completely outfitted to set up technology parks to attract hi-tech industries.
Keeping in view this fact, the Government of Sindh in collaboration with NED University is planning to build a technology zone to attract Information technology experts and to create employment opportunities for the endowed people.
The building of Technology zone is proposed to be completed by 2021 with an estimated cost of Rs 12 billion. The second project approved to run under PPP, is Karachi Marble City consisting on 300 acres of land near Northern bypass.
During the PPP meeting it was decided to persuade investors working in Marble industry so that by using high-tech modern methods they can produce value added Marble, granite and other stones.
The Chief Minister of Sindh Syed Murad Ali Shah, stated that both the projects will have the status of special economic zone under the special economic zones Act 2012, thus investors of these projects can benefit the facility of 10 years of exemption from income tax and custom duty on the import of machinery.