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Sindh to establish first Silicon Valley-style tech zone in Karachi

Sindh to establish first Silicon Valley-style tech zone in Karachi

The Sindh government has received formal approval to develop the province's first Special Technology Zone (STZ) on a 500-acre site within Karachi Education City, Gadap. The project, greenlit by Pakistan's Special Technology Zone Authority, aims to transform the area into a hub for cutting-edge innovation modeled after Silicon Valley.
Syed Qasim Naveed Qamar, Special Assistant to the Sindh Chief Minister on Investment, confirmed that eight major domestic and foreign investors have already expressed interest in the zone.
The STZ will focus on smart manufacturing, housing institutions specializing in automation, cybersecurity, health tech, agri-tech, blockchain, 5G networks, and clean energy solutions.
'This Special Technology Zone will prove to be the best junction for the integration of academia and industry,' Qamar stated, emphasizing the zone's potential to drive technological advancement and generate employment.
The development aligns with broader efforts to position Karachi as a regional tech leader, offering youth access to modern education and high-skilled job opportunities.
He said that this Special Technology Zone will promote latest technology and education in the province and create vast opportunities for education and employment for the youth.
Syed Qasim Naveed Qamar said that development work on the master plan based on the roadmap for the establishment of the Special Technology Zone is going on rapidly and this zone will soon become functional and will provide opportunities for education, latest technology and employment in the province.

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Sindh to establish first Silicon Valley-style tech zone in Karachi
Sindh to establish first Silicon Valley-style tech zone in Karachi

Business Recorder

time3 days ago

  • Business Recorder

Sindh to establish first Silicon Valley-style tech zone in Karachi

The Sindh government has received formal approval to develop the province's first Special Technology Zone (STZ) on a 500-acre site within Karachi Education City, Gadap. The project, greenlit by Pakistan's Special Technology Zone Authority, aims to transform the area into a hub for cutting-edge innovation modeled after Silicon Valley. Syed Qasim Naveed Qamar, Special Assistant to the Sindh Chief Minister on Investment, confirmed that eight major domestic and foreign investors have already expressed interest in the zone. The STZ will focus on smart manufacturing, housing institutions specializing in automation, cybersecurity, health tech, agri-tech, blockchain, 5G networks, and clean energy solutions. 'This Special Technology Zone will prove to be the best junction for the integration of academia and industry,' Qamar stated, emphasizing the zone's potential to drive technological advancement and generate employment. The development aligns with broader efforts to position Karachi as a regional tech leader, offering youth access to modern education and high-skilled job opportunities. He said that this Special Technology Zone will promote latest technology and education in the province and create vast opportunities for education and employment for the youth. Syed Qasim Naveed Qamar said that development work on the master plan based on the roadmap for the establishment of the Special Technology Zone is going on rapidly and this zone will soon become functional and will provide opportunities for education, latest technology and employment in the province.

Proposed project to connect port to Shahra-e-Bhutto discussed
Proposed project to connect port to Shahra-e-Bhutto discussed

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time30-05-2025

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KARACHI: Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, and Special Assistant to Chief Minister Sindh on Public-Private Partnership, Syed Qasim Naveed Qamar have discussed the proposed project to connect Karachi Port to Shahra-e-Bhutto (Malir Expressway) at Qayyumabad Interchange. They discussed the proposal during a meeting between Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, and Special Assistant to Chief Minister Sindh on Public-Private Partnership, Syed Qasim Naveed Qamar, held at the Sindh Investment Department on Thursday. The meeting focused on a wide range of development initiatives including road infrastructure connecting port areas, a comprehensive truck logistics park, desalination plant at Karachi Port Trust (KPT), and integrated strategies for the development of the blue economy. It was informed in the meeting that the distance from Karachi Port to Qayyumabad Interchange is approximately 12 kilometres. On this occasion, Special Assistant to the Chief Minister of Sindh Syed Qasim Naveed Qamar said that the proposed project will facilitate the movement of heavy traffic to Karachi Port and the heavy traffic of the port will be able to get easy access to the M-9 Super Highway without entering the city roads. Federal Minister Muhammad Junaid Anwar Chaudhry termed the project important and useful and assured his full cooperation to make it feasible. Syed Qasim Naveed Qamar said that the implementation of the project will reduce heavy traffic on the roads of Karachi city and increase traffic flow. It was informed in the briefing that the total portfolio of Public Private Partnership projects in Sindh has reached Rs 616 billion and all PPP projects have been declared successful. On this occasion, it was agreed to hold a meeting between the Sindh government and the Karachi Port Trust to make the proposed project of connecting Karachi Port to Shahrah-e-Bhutto feasible. Another major project discussed was the proposed construction of a truck logistics park near the Malir Expressway. Spanning over 300 acres, the park is strategically located due to its close proximity to city centres, port terminals, and direct access to the M-9 Motorway. This facility is aimed at organizing the growing number of heavy vehicles entering and exiting Karachi's ports daily. the installation of desalination plants at KPT was discussed to address Karachi's chronic water shortages. These plants would play a vital role in improving freshwater availability for both residential and industrial consumers, especially in port-adjacent areas. They also exchanged views on expanding the blue economy—harnessing ocean resources for sustainable economic growth while ensuring environmental conservation. The meeting was attended by Secretary Investment Sindh Raja Khurram Shahzad, Director General Public Private Partnership Unit Asad Zamin and other senior officers. Copyright Business Recorder, 2025

Exporters face double tax blow
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Exporters face double tax blow

Listen to article A senior tax official said on Thursday that 18% sales tax will be imposed on imported raw materials being used in exportable goods, amid a bizarre contradiction in the International Monetary Fund (IMF)'s policy to 'compel' Pakistan to simultaneously charge minimum and standard income tax rates from exporters. The Member Tax Policy of the Federal Board of Revenue (FBR), Dr Najeeb Memon, disclosed on Thursday that the IMF had asked the FBR to retain 1% minimum income tax on exporters while introducing the standard 29% income tax due to a lack of certainty about the revenues from the new measure. Before the last budget, the exporters were subject to only 1% income tax under the final tax regime, which the government changed to the standard 29% rate. The member policy made the disclosure in a meeting of the National Assembly Standing Committee on Finance that discussed the issue of charging double taxes from the exporters. Such double taxation was also contrary to international best practices. The committee members and the Karachi Chamber of Commerce and Industry (KCCI) proposed that the FBR should withdraw the 1% minimum income tax after it had already started charging 29% income tax. However, Memon disclosed that the minimum tax on the gross receipts of the exporters cannot be withdrawn because the IMF had asked to retain it for at least two to three years. "It is highly unfair to simultaneously retain both the regimes of minimum and standard income tax," remarked Chairman of the Standing Committee, Syed Naveed Qamar of the PPP. He went on to say that the FBR did not want to work and was comfortable collecting taxes by sitting in their rooms. There was no immediate independent verification of the FBR's claim about the IMF. There have been incidents in the past where the FBR used the name of the IMF to impose certain taxes for the sake of its own revenues. Memon said that it was the IMF that asked, in order to remain certain, the government should retain both the minimum income tax and introduce the standard rate too. He explained that the minimum tax was not refundable and the exporter has to pay both levies. Qamar also expressed displeasure about the absence of FBR Chairman, Rashid Langrial, from the committee meeting. Memon said that Langrial was in the IMF meeting. However, the Standing Committee chairman replied that he was coming from the IMF-PM luncheon meeting and the FBR chairman was not there. Due to the absence of the FBR chairman, Qamar refused to take up the government's tax-related bill for approval. He deferred the discussion on the Income Tax Second Amendment Bill, which the government has proposed to restore 25% income tax credit for the teachers. According to the proposed amendment, the tax payable by a full-time teacher or a researcher employed in a non-profit education or research institution duly recognised by the Higher Education Commission (HEC), a Board of Education or a university recognised by the HEC, including government research institutions, shall be reduced by an amount equal to 25% of tax payable on his income from salary. However, this exemption will not be available to teachers of the medical profession who derive income from private medical practice or who receive a share of consideration received from patients. The rebate has been proposed to be restored with effect from the first day of July 2022 and shall cease to have effect after tax year 2025. The committee also discussed the issue of the imposition of 18% sales tax on local raw materials meant for use in exports. The tax had been imposed in the last budget. There is a likelihood that imported raw material will also be taxed at the rate of 18% in the budget after the government imposed such tax on the local supplies for exportable goods, said the member tax policy. His comments came after the members of the committee and the KCCI demanded withdrawal of the 18% sales tax that had been levied on the local supplies of exporters in the last budget. MNA Arshad Abdullah Vohra said that the local manufacturers of raw materials were facing a big crisis after the government imposed the 18% tax in the last budget but did not impose such tax at the import stage. Last time, the IMF might have overlooked it, but this time the 18% tax will be imposed on imports too, said Memon.

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