Islamabad, August 13, 2025 – The Economic Coordination Committee (ECC) of the Cabinet on Wednesday gave the go-ahead for establishing a major industrial estate on the land of Pakistan Steel Mills (PSM) in Karachi, marking a significant step towards revitalizing industrial growth in the region.
The ECC, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, reviewed several economic and developmental proposals. The decision to utilize PSM’s underused land for an industrial estate is expected to generate thousands of jobs, attract both local and foreign investment, and create new opportunities for allied industries. Officials noted that the estate would be designed to accommodate a variety of manufacturing units, providing modern infrastructure and logistical support.
The meeting was attended by Federal Minister for Power, Sardar Awais Ahmed Khan Leghari, Federal Minister for Commerce, Jam Kamal Khan, along with federal secretaries and senior representatives from key ministries.
In addition to the industrial estate approval, the ECC also agreed to remove the requirement for Health Quarantine Certificates on the import and export of leather goods. This move is aimed at reducing procedural delays, supporting the leather sector’s competitiveness, and boosting export volumes.
The Committee sanctioned a Technical Supplementary Grant for the Ministry of Climate Change and Environmental Coordination for the fiscal year 2025-26, enabling Pakistan’s participation in COP-30 in Brazil. This will allow the Ministry to push forward climate resilience and environmental protection initiatives.
Moreover, a grant of Rs. 2,829 million was approved for the Pakistan Television Corporation (PTVC) to upgrade its English News Channel. The ECC emphasized that PTVC must prepare a robust business plan to ensure financial sustainability and minimize reliance on federal funds.
Concluding the session, the Chair stressed the timely execution of these projects, especially the industrial estate on PSM land, to ensure maximum economic and social impact while unlocking the full potential of this prime piece of state-owned estate.