Sindh Government has issued Rs. 829.642 million for the infrastructure development of Karachi’s four industrial areas. This amount is disbursed to the respective development companies for the industrial area. Industrialists disagree with the fund disbursement, protesting against the unfair distribution.
Sindh Government’s Finance Department issued a notification for the issuance of development funds for the industrial areas. According to the notification, the issued fund of Rs. 829.642 is fifty percent of the total approved Grant in Aid for the respective Development and Management Companies (DMC) of 4 industrial areas.
Here’s a breakdown of the funds distributed to each development company:
- Landhi Industrial Area DMC, Rs. 247,205,000
- Korangi Industrial Area DMC, Rs. 177,703,000
- Federal B Industrial Area DMC, Rs. 124,944,000
- North Karachi Industrial DMC, Rs. 252,789,500
Expenditures by the DMC are subject to fulfilling the required formalities and conditions:
- Development scheme will be prepared by DMC and submitted to Sindh Industrial Infrastructure Development Board (SIIDB).
- Work on development scheme will be started at the earliest but after evaluation and approval of SIIDB
- SIIBD will monitor the expenditure made by the DMC.
A source from one of the DMCs informed ProPakistani that the provincial government disbursed the fund on personal like and dislike. North Karachi Industrial area is the smallest among four industrial areas but it was given the highest amount of Rs. 252.789 million.
“DMC’s are protesting against the unfair fund disbursement, CM Sindh assured that this will be addressed in the 2nd trench,” the source added.
A formula is under consideration for fund distribution. The funds will be allocated on the basis of land, number of industries and electric meters in future.
The official notification can be seen below: