Key points

  • Achieving a PKR 1 trillion economy is not possible without improving Karachi, according to Senator Dr Afnan Ullah Khan, as reported by Business Recorder.
  • The business community can act as a bridge to drive economic growth and infrastructure improvements, Business Recorder stated.
  • Federal attention is crucial to resolve longstanding problems regarding electricity and water supply in the port city, the report added.

A trillion-rupee national economic target remains out of reach unless the immense potential of Karachi is fully unlocked, according to Business Recorder.

Key Details

Senator Dr Afnan Ullah Khan, Chairman of the Senate Standing Committee on Privatisation, stated that Karachi possesses vital economic potential and exceptional human resources, Business Recorder reported. Prime Minister Shehbaz Sharif is committed to enhancing the city's infrastructure, while the PML-N government is actively promoting its development, according to the same report.

Speaking at a meeting with industrialists and business community representatives at the Korangi Association of Trade and Industry (KATI), Dr Afnan noted that the business sector can play a bridging role in regional economic growth, Business Recorder stated. He also committed to raising persistent electricity and water supply challenges at the federal level, emphasizing that federal attention is essential for resolving these issues.

Context and Impact

Developing Karachi is considered a fundamental responsibility due to the city's substantial contribution to national revenue, according to Business Recorder. The PML-N government previously completed major development projects and tackled security challenges in the metropolis, the report noted. Furthermore, Dr Afnan stated that increased public support for the party in Karachi could lead to an expansion of future development projects, Business Recorder reported.

Summary and What Next

The discussion also touched upon broader economic hurdles, with the privatisation of Pakistan International Airlines (PIA) cited as a major past challenge, according to Business Recorder. Future outcomes hinge on federal intervention and closer collaboration between the government and the local business community to address municipal and economic hurdles.