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Business

Business leaders urge reforms to boost Karachi’s economy

Business and opinion leaders in Karachi urge for stronger local government, improved infrastructure, and better governance to revive the city’s economy.

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Business leaders urge reforms to boost Karachi’s economy
Business leaders and opinion makers discuss the need for reforms to boost Karachi’s economic growth.

Key Takeaways

  • Business and opinion leaders call for strengthening local government and revamping infrastructure.
  • Key demands include lowering energy costs, easing tax burden, and resolving civic issues.
  • Leaders stress the need for better governance and coordination among political, administrative, and security agencies.

Business and opinion leaders in Karachi have called for comprehensive reforms to revive the city’s faltering economy, focusing on strengthening the local government system and improving infrastructure.

Abdul Rehman Fudda, President of the Site Association of Industry (SAI), highlighted the need for business-friendly policies at the national level, including compatible energy costs, lower corporate tax rates, and a conducive environment for growth.

Fudda emphasized the importance of full support from provincial and local governments and law enforcement agencies to provide good infrastructure, controlled law and order, and proper supply of water. He also stressed the need for industrial zones to have development and management companies (DMCs) with clear authority and responsibility.

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Dr Muhammad Farooq Afzal, an eminent industrialist, stressed that Karachi, as the economic engine of Pakistan, needs reliable infrastructure and an enabling environment to remain competitive. He called for development funds to be spent in consultation with industrial associations on roads, drainage, water, sewerage, and other essential infrastructure.

Afzal also highlighted the need for uninterrupted and competitively priced electricity and gas, easier business regulations, efficient port connectivity, better public transport, and stronger support for exports and investment. He advocated for a permanent coordination mechanism involving government, local authorities, and business leadership to monitor implementation and ensure accountability.

Sardar Abdul Rahim, Pakistan Muslim League-Functional (PML-F) Sindh General Secretary, emphasized the need to eliminate rampant corruption, strengthen the local government system, and provide quality education to boost Karachi’s development.

The leaders also stressed the importance of better governance and coordination among political, administrative, and security agencies. They highlighted the successful introduction of e-traffic challans as a positive example of courage and determination by relevant authorities.

They called for a modernized, depoliticized, and accountable police force with intelligence-based policing and surveillance to curb street crime, robberies, and extortion. Land records should be digitized, and illegal occupation dealt with firmly. Traffic laws must be enforced without discrimination, while mass transit and road infrastructure require urgent improvement.

Reliable electricity, gas, and piped water were identified as basic necessities. Above all, Karachi needs an empowered city administration with clear authority, adequate resources, and accountability for delivery.

Nothing can be done in isolation. For business growth we must have business and industry friendly policies at national level which include compatible energy cost, lower corporate tax rates and overall conducive environment.

Abdul Rehman Fudda, President, Site Association of Industry (SAI)

Industry must also receive uninterrupted and competitively priced electricity and gas. At the same time, Karachi needs easier business regulations, efficient port connectivity, better public transport and stronger support for exports and investment.

Dr Muhammad Farooq Afzal, Eminent industrialist