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A meeting was held under the chairmanship of president of Pakistan on july 13, 2005 at the governor house,karachi. The president of Pakistan was pleased to direct formulation of infrastructure development companies in the four industrial areas of karachi namely landhi,korangi,Federal B Area and North karachi on the basis of private public partnership and the board of management was to run the affairs of these companies.The purpose of infrastructure development companies was to rehabilitate and upgrade the existing infrastructure and identify the projects for the future needs.
In the aforesaid meeting,the industrialists of the fourth industrial areas of karachi had apprised of the dilapidated conditions of the infrastructure that needed to be improved to meet the post-WTO conditionalties so as to boost exports. The president was kind enough to accede to the request of the industrialists and directed the sindh government to ensure formation of industrial development and management companies.He had also assured the industrialists that Rs.250 million.