STAFF REPORT KHI: Sindh has got the SEZ status for two more industrial zones namely Korangi Creek Industrial Park and Bin Qasim Industrial Park.
This decision has been taken during a recently held second meeting of approval committee of Board of Investment under SEZ Act 2012, says a press release.
The main fiscal benefits under the act of 2012 ensure a corporate tax holiday of ten years for investors and developers as well as duty free import of capital goods and machinery.
The Korangi Creek Industrial Park is being developed on 240 acres of land that is located in sector 38 of Korangi Industrial Area, Karachi.
The estimated cost of the project is Rs 3.8 billion. The project is visualized to bring Rs 20 billion direct investment and contribute Rs 40 billion to GDP and generate direct employment for 30,000 individuals.