Rs1trn economy target hinges on Karachi’s development: Dr Afnan

Senate Standing Committee on Privatisation chairman Dr Afnan Ullah Khan said Karachi’s development is necessary to achieve a Rs1 trillion economy target, Business Recorder reported. Speaking at a meeting with industrialists and business representatives, he said federal attention was needed to address the city’s electricity and water problems, and invited the business community to submit proposals for the government.

Khan also said the financial closing of the Main Line-1 railway project had been completed and work was expected to start soon. He discussed the government’s privatisation plans for distribution companies and Islamabad International Airport, while Karachi business representatives cited high energy costs as a barrier to industrial production and exports. KATI said the Korangi Industrial Area accounts for about 60 percent of Karachi’s revenue, and its exports total USD3.1 billion.