KARACHI: Mayor Karachi, Barrister Murtaza Wahab, has offered the Association of Builders and Developers (ABAD) to transform the city’s 56 slum areas into modern residential complexes through a public-private partnership.
Speaking at an event held at ABAD House, Mayor Wahab revealed that his administration is offering to build high-rise residential complexes on the vacant land within Karachi’s 56 Katchi Abadis. Under this plan, 50 percent of the apartments in these new buildings will be allocated to the current residents of the slum areas.
“Karachi is my city, and I am proud to be a Karachiities,” Wahab stated. “We will work closely with ABAD to restore the vibrancy and beauty of this great metropolis.”
The mayor’s offer comes as the Sindh government has taken significant steps to improve the city’s infrastructure. The provincial administration has allocated Rs 13 billion to the Water and Sewerage Corporation for upgradation of the Hub Dam system. As a result, Karachi will start receiving water from the dam’s new canal starting August 30, 2025.
Furthermore, a key component of the Sindh government’s four-year development plan, costing Rs 77 billion, is set to be completed before next December. “These funds and projects will pave the way for visible progress in Karachi,” Wahab said.
The mayor also shed light on the fiscal turnaround of the Karachi Metropolitan Corporation (KMC). He revealed that the KMC’s revenue has surged from a mere Rs 200 millions annually to over Rs 228 millions just in the month of September.
“We have made tough decisions, such as commercializing the rents of KMC’s 9,000 shops, which has increased our income from Rs 80 millions to Rs 255 millions,” Wahab explained.
“We have achieved a two-year goal in just 17 months.”
The KMC has also allocated Rs 500 million from its own resources for these development projects.
ABAD, a prominent real estate developer, is playing a crucial role in the city’s transformation.
ABAD Chairman Muhammad Hasan Bakshi disclosed that 526 acres of land in central Karachi is currently occupied by informal settlements, adding his organization has plans to convert this area into a residential model.
Mohsin Sheikhani, ABAD’s Patron-in-Chief, emphasised that Karachi has been neglected compared to other major cities like Islamabad and Lahore. He called upon the Pakistan Peoples Party’s government to take decisive action in eliminating the land grabbing mafia system that has plagued the city.
“The PPP must work for the development of Karachi, and the people of Karachi will stand by them,” Sheikhani said.
“The improvement of Karachi’s infrastructure will result in the federal government earning three times more in taxes. The Sindh Revenue Board alone generates 97 percent revenue from Karachi.”
The mayor’s bold vision, the Sindh government’s infrastructure investments, and the commitment of organisations like ABAD suggest that Karachi is poised for a transformative period in the years to come.
Copyright Business Recorder, 2024
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