The Korangi Association of Trade and Industry (KATI) has extended its congratulations on announcing a new industrial zone spanning 10,000 acres in Karachi by the Caretaker Federal Minister for Industry and Commerce, Dr. Gohar Ijaz. Acting President Nighat Awan expressed her appreciation for the move, emphasizing that KATI has consistently advocated for the promotion of industrialization, underscoring its pivotal role in stabilizing Pakistan’s economy.
Acting President Nighat Awan stressed the need for urgent attention to address infrastructure, sewage, water, and other challenges faced by existing industrial zones in Karachi, particularly the largest one, the Korangi Industrial Zone. She emphasized that resolving these issues is crucial for the successful establishment of new industries and the overall promotion of industrialization.
Highlighting the positive impact of industrialization, Nighat Awan emphasized that it not only contributes to increased exports but also generates higher tax revenue, effectively addressing unemployment issues in the country. She pledged KATI’s full support for the Federal Minister of Commerce’s ambitious goal to elevate exports to $100 billion, affirming the KATI’s commitment to facilitating the mission.
Reflecting on past experiences, Acting President KATI acknowledged the historical decisions made by Federal Minister Dr. Gohar Ijaz and SM Tanveer, Patron-in-Chief of UBG and KATI, which involved the active participation of the business community in policy-making. This inclusive approach, she noted, had yielded positive results for the economy, pulling Pakistan out of severe financial crises. Awan underscored the importance of stakeholder involvement in shaping economic development policies.
Expressing hope for the continuity of the current positive government policies, Acting President KATI envisioned a stabilized Pakistani economy with reduced dependence on foreign aid. KATI remains optimistic about the potential economic benefits that will arise from the establishment of the new industrial zone in Karachi.
