KARACHI: Sindh Chief Minister Syed Murad Ali Shah announced an extensive development plan of Rs200bn for Karachi.
Addressing at the annual dinner of the Korangi Association of Trade and Industry (Kati), he said the Malir Expressway will connect the megacity’s port to Jinnah International Airport, aiming to ease traffic congestion and improve logistics for businesses. He said the government is working to address the megacity’s chronic water shortage by bringing 200 million gallons of water from the Hub Dam by June 2025.
He expressed concern over the federal government’s neglect of Sindh, pointing out that the province had not received adequate investment as compared to what is received by other provinces. He noted that while motorways have been constructed across Pakistan, the motorway connecting Karachi to Sukkur remains unfinished.
About the K4 water project, he said it is the only major federal project allocated to Karachi. He said Rs172 billion dues for infrastructure cess remains tied up in legal disputes, with the matter now pending in the Supreme Court. Despite these challenges, the government is taking efforts to improve the megacity. He said that President Asif Ali Zardari is scheduled to visit China next month to secure further investments for Sindh, particularly Karachi.
KATI Patron-in-Chief SM Tanveer stressed the importance of taking immediate steps to stabilise Pakistan’s economy. He referred to the recent loan from the International Monetary Fund (IMF) as a ‘temporary relief’ but noted that it is also a loan that the nation must repay. He called for reforms to the Independent Power Producers (IPPs) system and expressed hope that a government taskforce would provide a solution in this regard within a month.
He praised the Sindh government’s initiatives, particularly in healthcare, noting that people are now coming to Sindh from abroad for medical treatment.
KATI President Johar Qandhari highlighted the challenges faced by Karachi’s industrialists, citing rising electricity costs and water shortages. He noted that businesses in the megacity are paying an additional Rs. 5 per unit for electricity compared to other regions and that industries are spending millions to secure water for their operations. He praised the government efforts, citing the Rs1 billion fund provided to KITE Limited, a public-private partnership that is transforming Korangi Industrial Area’s infrastructure, as a key example of the government’s commitment to development.
Deputy Patron-in-Chief Zubair Chhaya reiterated the critical role Karachi plays in Pakistan’s economy and stressed that the city must be prioritized if the country is to overcome its current economic challenges.
He urged the government to focus on reducing production costs for exporters to increase national exports, arguing that Pakistan’s revenue cannot grow unless issues affecting taxpayers and businesses are addressed.
KITE Limited CEO Zahid Saeed added that Karachi contributes 56% of the country’s exports and 70% of Sindh’s revenue, emphasizing the importance of public-private partnerships in the city’s development. He praised the Sindh government’s efforts, particularly in Korangi, where RS 1.35 billion has been invested in infrastructure improvements.
Copyright Business Recorder, 2024
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