Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Friday chaired a progress review meeting on the Karachi Coastal Comprehensive Development Zone and gave a directive for setting up a committee to expedite work on the project.
International Business Bay Area
“In accordance with instructions of the federal planning minister, a high-level committee under the chairmanship of maritime affairs secretary, with all relevant stakeholders, including the government of Sindh, has been constituted for the formulation of an action plan and firming up timelines for the project ahead of the 12th Joint Coordination Committee (JCC) meeting scheduled for July 2023,” a statement said.
The $3.1 billion project, located around western backwaters of Karachi Port and spread over 687 hectares, will result in the creation of an international business bay area, a hi-tech knowledge-economy sector, a hub for global young talents and entrepreneurs, and a showcase of the world-class waterfront lifestyle.
The scope of the project also includes the setting up of a new industrial city, external connecting roads, breakwaters and a coastal bridge, a cruise terminal, seawater desalination plants, and environmental improvement works. Karachi Port Trust through the Ministry of Maritime Affairs is the leading federal organization executing the project in consultation with all stakeholders.
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