Govt approves establishment of Technology Park and Marble City for Karachi

Sindh Chief Minister Syed Murad Ali Shah while presiding over a meeting of Public Private Partnership Policy Board approved the establishment of Technology Park and Marble City for Karachi. Both the projects will be created under the public private partnership (PPP) mode.

Under the Special Economic Zones Act 2012, both the projects will have the status of special economic zone, thus investors of both of these projects can avail the facility of 10 years of exemption from income tax and custom duty on the import of machinery.

The technology park will be built in collaboration with NED University. At an estimated cost of Rs 12 billion the technology park will have a 20 storey state of the art building as technology zone, where professionals and IT experts will set up their businesses.

The Karachi marble city is proposed to be built on 300 acres of land near Northern bypass. 200 acres more land adjacent to Karachi marble city will be reserved for industries related to the construction sector and a feasibility study in this regard will be conducted prior to the development of marble city.