The government of Sindh has approved two megaprojects for Karachi under the public-private partnership (PPP), one industrial is to create a technology park at NED University and the commercial project is “Karachi Marble City”.
The Pakistani government envisions its vision among 25 global economies by 2025 and is fully equipped to set up technology parks to attract high-tech industries.
In view of this fact, the Sindh government, together with NED University, plans to build a technology zone to attract IT experts and create employment opportunities for the endowed people.
It is proposed that the construction of the technological zone be completed by 2021 with an estimated cost of Rs 12 billion. The second project approved to operate under a PPP is Karachi Marble City, which covers 300 acres of land near the northern ring road.
At the PPP meeting, it was decided to persuade investors working in the marble industry so that by using modern high-tech methods, they can produce marble, granite and other value-added stones .
Sindh Syed Chief Minister Murad Ali Shah said both projects will have special economic zone status under special economic zones Law 2012, thus investors in these projects can benefit from the facility of 10 years exemption from income tax and customs duties on importing machinery.