KIDB to set up a limited company for uplift works

The Korangi Industrial Development Board (KIDB), as per government's trade policy, will constitute a limited company to carry out development works in the industrial area through an agreement with the City Government.
A decision in this regard was taken at a meeting of the board, which was set up by the City Government held here on Thursday with its Chairman/City Nazim Naimatullah Khan in the chair.
The meeting was attended by DCO Mir Hussain Ali, Town Nazim Abdul Jameel Khan, Chairman Kati Mian Zahid Hussain besides EDO revenue and works, EDO export promotion, EDO water and sanitation and office-bearers of Kati and senior officials.
As per government policy, the company's budget will have 50 percent contribution from federal government, 25 percent from provincial government, 10 percent from City Government and 15 percent from industrialists.
It was decided that City Government's 10 percent amount would be adjusted against the amount recovered as various taxes from industrial areas and City Government will maintain a separate account of recovery of such taxes.
The meeting decided that all industrial boards would abide by the laws of City Government and building control authority for infrastructure development in the Korangi, Landhi, Federal 'B' Area and New Karachi industrial areas.
The board will also have the officials of City Government to ensure speedy development of water supply and sewerage systems.
It may be mentioned here that City Government has set up four industrial boards for four industrial areas, which includes the officials of City Government as well as representatives of industrial areas for carrying out development works and improving the existing infrastructure.
The City Nazim issued various directives in the meeting and pointed out that with infrastructure, the opportunities for export and employment will rise.
He emphasised that for improved infrastructure and development works, the City Government's constituted industrial boards will have to play an active role. He directed the boards to chalk out its working plan for start of development activities.