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The unlivable city

The unlivable city

Express Tribune8 hours ago

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For yet another year, Karachi has been branded one of the world's least livable cities, ranking 170 out of 173 in the Economist Intelligence Unit's 2025 Global Liveability Index. With a dismal score of 42.7 on a 100-point scale, Karachi barely edged out Dhaka, Tripoli and Damascus to stay out of last place. It should be noted however that Dhaka has been at the centre of a political revolution that led to the overthrow of the Bangladeshi government and several protests, some of which turned violent.
Tripoli has been ravaged by a civil war and repeated flare-ups since the Arab Spring began in 2011, while Damascus has just emerged from the brutality of the Syrian civil war. Karachi, on the other hand, has no civil war or uprising to blame. It just is that much of a mess.
The city's woes are multifaceted, rooted in decades of neglect and misguided priorities. Karachi scored worst in "stability" and "infrastructure" — even worse than war zones where roads, highways and hospitals are being bombed — and it remains plagued by crime, terrorism and inadequate public services. In fact, a Forbes Adviser list last year placed Karachi as the second riskiest city for international tourists.
An Asian Development Bank report also offered more context for Karachi's problems, drawing a direct link between grotesque income inequality and the city's major problems. While it is quite difficult to make things worse,
Mayor Murtaza Wahab's defence was simultaneously lamentable as he criticised the survey for overlooking Karachi's "vibrancy" and "resilience." Other cities generally described as vibrant include Vienna and Damascus, which are polar opposites in almost every other measure.
Beyond security, many of the problems holding Karachi back are unique to Pakistan, including the commercial emphasis on property speculation, which is more lucrative for businesses and politicians, rather than affordable housing developments, which are direly needed and still profitable.

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The unlivable city
The unlivable city

Express Tribune

time8 hours ago

  • Express Tribune

The unlivable city

Listen to article For yet another year, Karachi has been branded one of the world's least livable cities, ranking 170 out of 173 in the Economist Intelligence Unit's 2025 Global Liveability Index. With a dismal score of 42.7 on a 100-point scale, Karachi barely edged out Dhaka, Tripoli and Damascus to stay out of last place. It should be noted however that Dhaka has been at the centre of a political revolution that led to the overthrow of the Bangladeshi government and several protests, some of which turned violent. Tripoli has been ravaged by a civil war and repeated flare-ups since the Arab Spring began in 2011, while Damascus has just emerged from the brutality of the Syrian civil war. Karachi, on the other hand, has no civil war or uprising to blame. It just is that much of a mess. The city's woes are multifaceted, rooted in decades of neglect and misguided priorities. Karachi scored worst in "stability" and "infrastructure" — even worse than war zones where roads, highways and hospitals are being bombed — and it remains plagued by crime, terrorism and inadequate public services. In fact, a Forbes Adviser list last year placed Karachi as the second riskiest city for international tourists. An Asian Development Bank report also offered more context for Karachi's problems, drawing a direct link between grotesque income inequality and the city's major problems. While it is quite difficult to make things worse, Mayor Murtaza Wahab's defence was simultaneously lamentable as he criticised the survey for overlooking Karachi's "vibrancy" and "resilience." Other cities generally described as vibrant include Vienna and Damascus, which are polar opposites in almost every other measure. Beyond security, many of the problems holding Karachi back are unique to Pakistan, including the commercial emphasis on property speculation, which is more lucrative for businesses and politicians, rather than affordable housing developments, which are direly needed and still profitable.

Pakistan secures $1b ADB-backed loan in return to Middle East markets
Pakistan secures $1b ADB-backed loan in return to Middle East markets

Express Tribune

time9 hours ago

  • Express Tribune

Pakistan secures $1b ADB-backed loan in return to Middle East markets

Listen to article Pakistan has secured a $1 billion syndicated term finance facility, partially guaranteed by the Asian Development Bank (ADB), marking its return to Middle Eastern financial markets after more than two years, the Ministry of Finance said on Tuesday. The facility is backed by the ADB's Policy-Based Guarantee under its 'Improved Resource Mobilization & Utilisation Reform' programme, aimed at supporting Pakistan's long-term fiscal resilience. Dubai Islamic Bank served as the sole Islamic global coordinator, while Standard Chartered Bank acted as mandated lead arranger and bookrunner. Other participating banks include Abu Dhabi Islamic Bank, Sharjah Islamic Bank, Ajman Bank, and HBL. "This landmark transaction underscores the growing confidence of leading regional financiers in Pakistan's fiscal and macroeconomic recovery," the ministry said in a statement. The $1 billion loan spans five years and is structured in multiple tranches. Notably, 89% of the facility is based on Islamic finance principles and fully complies with AAOIFI standards. The remaining 11% consists of conventional financing. It is also the first facility supported by ADB's Policy-Based Guarantee linked to specific policy reform measures undertaken by a member country. The ministry noted that the deal reflects renewed trust from the international financial community in Pakistan's economic management and opens the door to deeper partnerships with Middle Eastern banks. 'The success of this transaction marks Pakistan's re-entry into international commercial markets and sets the foundation for further engagement with regional financiers,' the statement added.

Budget allocations for Karachi: JI to hold protest march on 21st
Budget allocations for Karachi: JI to hold protest march on 21st

Business Recorder

timea day ago

  • Business Recorder

Budget allocations for Karachi: JI to hold protest march on 21st

KARACHI: Jamaat-e-Islami (JI) Karachi Chief, Munim Zafar has announced a protest march to the Sindh Assembly on 21st June while launching a scathing attack on the Pakistan Peoples Party (PPP) and Muttahida Qaumi Movement (MQM), accusing them of political hypocrisy and failing to secure Karachi's rightful share in development funds despite being part of the ruling coalition at the center. Addressing at a press conference at JI's Karachi headquarters, Idara Noor-e-Haq on Tuesday, Munim Zafar said that while both parties enjoy ministries and privileges in the federal government, they have done little to address Karachi's chronic issues, including water shortages, power outages, and crumbling infrastructure. He highlighted that Karachi, despite being Pakistan's economic hub, was largely ignored in the recent federal and provincial budgets. He pointed to the K4 water supply project as a glaring example of neglect. He said the Sindh government sought Rs 40 billion for this project but only Rs 3.2 billion were allocated, calling it a deliberate betrayal of Karachi's needs. He noted the project has been stalled for 22 years and this paltry sum ensures it remains in limbo. He also criticised the PPP-led provincial government for failing to launch any new mega projects for Karachi, despite the city generating the bulk of Sindh's revenue. Munim Zafar accused the PPP of hypocrisy, citing Karachi Mayor Murtaza Wahab's recent complaints about the federal government ignoring the city. He questioned why the PPP doesn't use its influence in the center to push for the city's rights if it is serious about Karachi. Similarly, he slammed the MQM for using Karachi's name to win votes but doing nothing in return, noting that while both parties are quick to secure ministries and perks for themselves, they show no urgency in resolving Karachi's crises. The JI leader said the protest rally on June 21 will demand fair budget allocations for Karachi, immediate completion of the K4 water project, new infrastructure and development initiatives, and an end to political neglect of the city. He vowed that JI would continue its legal and democratic struggle for Karachi's rights and urged citizens to join the upcoming protest, declaring that it's time for real action, not empty promises. Shifting focus to international affairs, Munim Zafar strongly condemned Israel's attacks on Palestine and other Muslim nations, as well as the United States for repeatedly shielding Israel at the UN. He said the UN has failed its purpose by allowing such atrocities and called the Organization of Islamic Cooperation equally ineffective, urging Muslim countries to unite independently to confront aggressors like Israel. Copyright Business Recorder, 2025

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