President of Korangi Association of Trade & Industry (KATI) Saleem-uz-Zaman urged to establish a mechanism to provide funds for infrastructural development of industrial area on priority basis. He mentioned that while federal government has been planning to monitor development expenditure of provinces provident under NFC, infrastructural development of industrial area would be the well-deserved segment for structural reforms. He was of the view that it has been a longstanding demand of industrial community of the country that taxes and revenue collected from any particular industrial area should be expend on the development of that very area.

He mentioned that being the largest industrial area of the country, Korangi Industrial Area (KIA) pays 40 to 60 million rupee on daily basis to the national exchequer under different heads. Saleem-uz-Zaman said that KITE DMC has proved itself a successful model for development in industrial area, this model should be more financially strengthened. He said that as the engine of country’s economic prosperity industry should be on the top priority list while it comes to provide basic utilities like energy, water etc. ” Federal and provincial government should sit together with industrial community to craft a long term strategy to provide financial independence to the industrial areas of the country”, he added.