Govt approves Industrial Estate on PSM land

August 15, 2025 (MLN): The Government in an industrial development push, has approved the establishment of an Industrial Estate on Pakistan Steel Mills (PSM) land in Karachi.

The project aims to spur industrial activity, attract investment, and create employment opportunities, contributing to the city’s economic revival.

The decision was taken during a meeting of the Economic Coordination Committee (ECC) meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, which brought together key cabinet members, federal secretaries, and senior officials.

The Committee approved the removal of the requirement for Health Quarantine Certificates on leather imports and exports a step expected to ease trade barriers, cut costs for exporters, and improve the industry’s competitiveness in global markets.

ECC also sanctioned a Technical Supplementary Grant for the Ministry of Climate Change and Environmental Coordination for the 2025–26 fiscal year.

The funding will support Pakistan’s participation in the upcoming COP-30 climate summit in Brazil, which is to allow the government to strengthen its initiatives on environmental protection and climate resilience.

Furthermore, a grant of Rs 2,829 million for the Pakistan Television Corporation (PTVC) to upgrade its English News Channel, aimed to enhance broadcast quality and expand its reach to global audiences.

The minister stressed the need for timely and effective implementation of all approved measures to maximize their economic and social impact.

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