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Karachi, Pakistan’s bustling metropolis, harbours a hidden gem for entrepreneurs and industrialists: the Pakistan Industrial Development Corporation (PIDC) Karachi. But what exactly is PIDC Karachi, and how can it benefit your business?
Graana.com has prepared a comprehensive guide to PIDC Karachi, offering insights into its evolution, current projects, and the enticing benefits it offers. We’ll delve into operational industrial parks like Korangi Creek and Bin Qasim, explore upcoming projects like Rachna and Naushahro Feroze, and shed light on the future of PIDC with initiatives like macroeconomic research.
PIDC, a Federal Government entity founded in 1952 with the initial purpose of establishing an industrial base in the country, has undergone a transformation over the past several decades. While the private sector has taken the lead in industrialization, PIDC’s role has evolved into that of a facilitator for industrial development. It now focuses on creating conducive environments for various industry segments, primarily through its subsidiary companies.
Currently, PIDC functions primarily as an infrastructure developer for industrial parks and estates, aiming to foster industrial growth throughout Pakistan. PIDC is actively involved in the development and management of the following five industrial parks across the country.
Looking ahead, PIDC is planning to broaden its scope by venturing into the field of macroeconomic research to assist the Federal Government in policymaking. This initiative will be led by PIDC’s research arm, which intends to conduct research studies to validate the potential for sustained, structured development of indigenous industrialization in the long term.
Korangi Creek Industrial Park (KCIP) is an established and operational Special Economic Zone (SEZ) spanning 250 acres in the Korangi district of Karachi. Designated as an SEZ in 2015, KCIP stands as one of the earliest SEZs in Pakistan. The park hosts a diverse range of Small to Medium Enterprises across various industrial sectors, including Pharma, Textile, Packaged Food, Confectionery, Light Engineering, and Packaging.
Enterprises within the designated zone are eligible to benefit from a 10-year income tax holiday and a one-time import duty exemption, as outlined in the SEZ Act of 2012.
PIDC facilitates a streamlined process for building plan approval through a designated panel of certified architects and engineers, ensuring a one-window approach. The industrial zone boasts a secure business environment with the implementation of boundary walls and security management services.
Zone enterprises benefit from state-of-the-art infrastructure, with utilities and amenities readily available at their doorstep. PIDC’s Project Office provides centralised estate management services to further support the smooth operation of the zone.
Following utilities are available at Korangi Creek Industrial Zone:
Bin Qasim Industrial Park (BQIP) covers 930 acres and is recognized as a Special Economic Zone (SEZ). Strategically located in Karachi, it sits merely 6.0 kilometres from the N-5 National Highway, specifically within the Downstream Industrial Estate of Pakistan Steel Mills (PSM). Given this advantageous location, BQIP-SEZ emerges as a prime investment spot for businesses looking to serve local, national, and international markets.
Additionally, enterprises within BQIP-SEZ stand to benefit from specific incentives. As per the SEZ Act of 2012, eligible Zone Enterprises can enjoy a 10-year income tax holiday. Furthermore, they are entitled to a one-time import duty exemption, enhancing the park’s attractiveness for potential investors and businesses.
Plots are prepared for immediate possession and construction. PIDC offers a streamlined process for building plan approval through a designated panel of certified architects and engineers, providing a one-window approach. The business environment is secured with the implementation of boundary walls and security management services.
The industrial zone boasts state-of-the-art infrastructure, and utilities and amenities are conveniently available at the doorstep of zone enterprises. PIDC’s Project Office provides centralised estate management services to support the efficient operation of the zone.
Following utilities are available at Bin Qasim Industrial Park:
Rachna Industrial Park (RIP) is a designated Special Economic Zone (SEZ) encompassing 178 acres of level, non-mountainous terrain. Positioned strategically, RIP-SEZ is located 7.5 kilometres off Lahore-Sheikhupura Road, offering convenient accessibility from across the country through the existing network of national highways and motorways.
This location serves as an ideal investment destination for businesses aiming to cater to their regional, national, and international customer base.
Following utilities are available at Rachna Industrial Park:
The Naushahro Feroze Industrial Park (NFIP) is located 300 kilometres from Karachi on the Main N-5 Highway and spans 80 acres. Designed to bolster small industries in rural Sindh, NFIP was recognized as a Special Economic Zone (SEZ) by the Board of Investment (BOI) in May 2020. This development aims to create substantial job opportunities, driving economic growth in the area.
Furthermore, NFIP is poised to function as a pivotal logistics hub. It will streamline the distribution of agricultural products from the region to various destinations across the country, enhancing efficiency in supply chain operations.
The Karachi Industrial Park (KIP) is part of Pakistan’s China-Pakistan Economic Corridor (CPEC), which has nine Special Economic Zones (SEZs). KIP-SEZ will occupy 1,500 acres, replacing the former Pakistan Steel Mills site in Karachi. PIDC secured funding from the Public Sector Development Program (PSDP) by presenting its development proposal to the Planning Commission CDWP.
In June 2022, an international consultancy firm specializing in economic zone development was chosen for KIP. This firm’s responsibilities include conducting the feasibility study, designing the park, and supervising its construction
PIDC Karachi refers to the Pakistan Industrial Development Corporation in Karachi, which plays a crucial role in the industrial development and economic growth of the region.
PIDC aims to contribute to the industrial development of Karachi by implementing strategic projects, fostering economic growth, and creating employment opportunities.
KIP is a 1,500-acre industrial park on the former Pakistan Steel Mills land in Karachi. It is a key project under CPEC, aimed at promoting industrialization, attracting investments, and boosting economic activities in the region.
PIDC successfully presented its development proposal to the Planning Commission CDWP and secured funding from the Public Sector Development Program (PSDP) for the Karachi Industrial Park.
In June 2022, a leading international consultancy firm. It specialses in Economic Zone development, was assigned the responsibility for the feasibility study, design, and construction supervision of the Karachi Industrial Park.
Businesses and investors interested in collaboration with PIDC in Karachi can explore partnership opportunities by reaching out to the corporation through official channels or relevant government offices.
PIDC envisions sustainable and inclusive industrial development in Karachi. It is fostering innovation, competitiveness, and economic resilience for the benefit of the local community and the nation as a whole.
For more related information, visit Graana Blog.
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