While announcing initiatives to bring down the cost of doing business to spur industrial activities in the country’s economic nerve centre, Caretaker Commerce Minister Gohar Ejaz on Thursday said that Karachi is going to have a Garment City besides an enormous area of Pakistan Steel Mills (PSM) will be converted into a special zone for industrial development.
Presiding over a meeting with businessmen of Karachi at Governor House on Thursday, the minister said a modern infrastructure has been planned on 300 acres of Karachi Garment City (KGC) while a plug-and-play environment unit will also be set up followed by water recycling and treatment plants.
The board of directors of KGC approved a plan to transform 300 acres into export processing zones where land will be offered on a lease basis, while the fate of PSM will be decided on Friday.
After multiple failed attempts to sell off PSM since 2019, the government shelved the idea and transferred the country’s largest steel producer to the Ministry of Industries and Production in November.
