{
  "id": 19585355,
  "title": "Rs1trn economy target hinges on Karachi’s development: Dr Afnan",
  "url": "https://urgent.news/2026/11/12/rs1trn-economy-target-hinges-on-karachis-development-dr-afnan",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-12T01:21:56.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40448538/rs1trn-economy-target-hinges-on-karachis-development-dr-afnan"
  },
  "original_language": "en",
  "account": "Senator Dr. Afnan Ullah Khan emphasized that achieving Pakistan's goal of a PKR 1 trillion economy is contingent upon the development of Karachi. He highlighted that the city is a treasure trove of economic potential and boasts some of the country’s finest human resources. Prime Minister Shehbaz Sharif is dedicated to enhancing Karachi’s infrastructure, and the PML-N government is actively working to promote its development. Khan suggested that the business community could act as a bridge, contributing to both the city’s improvement and economic growth. He stressed the need for federal government intervention to rectify Karachi’s long-standing issues, particularly related to electricity and water supply. During a gathering with industrialists and business leaders at KATI, Khan affirmed that the PML-N government has made significant strides in completing major development projects and tackling security concerns in Karachi. He stressed that developing Karachi is an obligation due to the city’s significant contribution to national revenue. Khan expressed optimism that increased public support for the PML-N in Karachi could facilitate further development projects. Regarding Pakistan International Airlines (PIA) privatization, Khan noted that it presented a formidable challenge, with the company finally being privatized after four attempts, thanks to a thorough assessment and external valuation. The process was conducted transparently, and it was reassuring that the airline remained under Pakistani ownership. Khan also mentioned that the legislative model for privatizing electricity distribution companies (DISCOs) had been emulated from Turkey. Islamabad International Airport was also earmarked for privatization. Khan remarked that the Sukkur and Quetta electric supply companies were responsible for roughly 90 percent of the overall power-sector losses, with Quetta being solely accountable for 70 percent. The government was actively working to enhance these entities’ performance. He also proposed establishing a solar park outside Karachi with the assistance of the business community. KATI President Sheikh Umer Rehan echoed Khan’s sentiments, emphasizing that Karachi contributes over half of Pakistan’s national revenue, with the Korangi Industrial Area accounting for roughly 60 percent of the city’s earnings. Rehan pointed out that just six major export-oriented industries in the Korangi Industrial Zone contribute five percent to Pakistan’s total exports, and the area’s overall exports reached USD3.1 billion. Despite these impressive figures, Rehan stressed that Karachi’s business community faces numerous obstacles at federal, provincial, and local government levels, including exorbitant energy costs that hamper export growth. Rehan urged all federal ministers to visit Karachi every month, as the FBR Chairman does, to meet stakeholders and address their concerns directly. He believed that regular visits by federal ministers, akin to the FBR Chairman’s monthly visits, could expedite the resolution of Karachi’s issues and bolster the business community’s confidence. KATI Deputy Patron-in-Chief Zubair Chhaya reiterated that Karachi’s business community is working diligently for the nation’s economic welfare, irrespective of political affiliations. He underscored that Karachi’s development is intrinsically linked to Pakistan’s progress, citing the city’s historical role in Pakistan’s industrial development. Chhaya lamented the severe lawlessness, deteriorating infrastructure, and widespread corruption that Karachi faced, but acknowledged its continued contribution of approximately 60 percent to the national economy. Chhaya also highlighted that Punjab had experienced rapid development under Nawaz Sharif’s leadership and the Pakistan Muslim League-N, and he called for similar attention and development initiatives for Karachi. He expressed hope that Senator Dr. Afnan Ullah Khan would effectively advocate for Karachi’s concerns.",
  "summary": "KARACHI: Chairman of the Senate Standing Committee on Privatisation Senator Dr. Afnan Ullah Khan has said that achieving the target of a PKR 1 trillion economy is not possible without improving Karachi. He said the city possesses immense economic potential and some of the country’s finest human resources. Prime Minister Shehbaz Sharif is committed to improving Karachi’s infrastructure, while the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}