Karachi: The overlooked golden goose – Business

Karachi: The Neglected Golden Goose

Despite facing numerous challenges, Karachi remains a top destination for employment and social advancement in Pakistan. The city contributes significantly to the national economy, accounting for 25% of the GDP and generating 50% of the country’s revenue. However, despite its crucial role, Karachi continues to be neglected by the federal and Sindh governments.

The recent budgets announced by both governments highlight a lack of sensitivity towards Karachi’s issues. The federal government’s budget cut of Rs250 billion for the Public Sector Development Programme (PSDP) will further limit funds for development projects in Karachi. The Sindh government, despite being well-funded, appears hostile towards the city, its provincial capital.

Efforts to address Karachi’s problems, such as the ‘Karachi Diagnostic Report’ commissioned by Chief Minister Murad Ali Shah, have not been fully implemented. With only a small percentage of the budget allocated to local bodies in Karachi, the city faces a severe infrastructure deficit.

Despite its significant contributions to public finance, Karachi continues to be neglected. The city’s potential remains untapped as political interests overshadow its development needs. As Karachi struggles for attention and resources, its status as Pakistan’s economic hub hangs in the balance.\

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