The government of Pakistan is planning a major strategy to revitalize its Special Economic Zones (SEZs), with a pilot project in the works to transfer management of Karachi Industrial Park (KIP) to China. A senior official shared that this development is part of the China-Pakistan Economic Corridor (CPEC), which includes nine SEZs across Pakistan. The Karachi Industrial Park is situated on the grounds of the non-functional Pakistan Steel Mills (PSM) and is intended to be a central hub for boosting industrial activity and foreign investment in the region.
The decision to hand over Karachi Industrial Park to China underscores the ongoing economic collaboration between the two nations and marks a significant step in revitalizing Pakistan’s industrial sector. By utilizing PSM’s land, the project aims to repurpose dormant resources and turn the site into a vibrant center for manufacturing and trade. This partnership is expected to bring in Chinese expertise, technology, and capital to support the park’s development, potentially creating job opportunities and enhancing Pakistan’s manufacturing capabilities.
Reflecting on the deep-rooted bond with Turkey, Pakistani officials shared sentiments of kinship, noting that the narrow streets and historical architecture of Istanbul reminded them of Lahore. This cultural connection resonates with Pakistan’s broader goals of strengthening ties with allied nations to enhance trade, economic stability, and shared infrastructure development. The official further emphasized that this journey, similar to the partnership with China, symbolized Pakistan’s commitment to fostering international alliances that boost its economic landscape.
This move to revitalize Karachi Industrial Park is seen as a vital aspect of the broader CPEC initiative, aimed at driving economic growth through infrastructure, energy, and industrial projects. As Pakistan and China continue to deepen their economic ties, the Karachi Industrial Park project serves as a promising step toward realizing the potential of Special Economic Zones across the country, turning dormant assets like the Pakistan Steel Mills into productive engines of growth.