
K-IV project: governor says Centre has already released Rs20bn
He also proposed a meeting at Governor House with Chamber representatives to discuss the K-IV project and explore the possibility of transferring its ownership to the business community for expedited execution.
Governor, who graced the closing ceremony of the 20th edition of the iconic 'My Karachi – Oasis of Harmony' Exhibition, organized by the Karachi Chamber of Commerce & Industry (KCCI), has praised KCCI for organizing the event in a vibrant and engaging manner.
Emphasizing the need for secure infrastructure and access to basic services, he stressed that both federal and provincial governments must work closely to address Karachi's genuine challenges. He urged the business community to collaborate with his office and legislators for shaping strategic industrial and infrastructure development initiatives.
Governor Tessori further revealed plans to issue a recommendation letter for a prestigious civil award to Chairman Businessmen Group (BMG) Zubair Motiwala in recognition of his unmatched contributions to Karachi's business ecosystem.
At the inauguration ceremony, Chief Minister Sindh Syed Murad Ali Shah lauded the Karachi Chamber for successfully staging the 20th edition of My Karachi Exhibition and reiterated the Sindh Government's firm support for the business community. He announced the launch of Sindh's Independence Day celebrations under the theme 'Maarka-e-Haq'—symbolizing Pakistan's continuing struggle for justice, sovereignty, and unity.
Chairman BMG Zubair Motiwala shared that the 21st My Karachi would also promise greater international participation and enhanced features for visitors. He informed that this year's edition saw participation from 7 consulates and over 20 multinational companies, which showcased a broad range of products and services. 'Exhibitors, visitors and people from different walks of life have been advising KCCI to hold this grand exhibition twice a year which is testament to its growing impact and popularity,' he stated.
Appreciating the Sindh government's support, Motiwala emphasized the need for swift resolution of lingering challenges, especially the shortage of water and gas faced by industries, and called for completion of the K-IV project at the earliest.
President KCCI Muhammad Jawed Bilwani extended heartfelt gratitude to all stakeholders and the media for their unwavering support. He congratulated Chairman BMG Zubair Motiwala, Chairman Special Committee Muhammad Idrees, and KCCI's Managing Committee for organizing a memorable and impactful event. He especially praised the participation of women entrepreneurs and public welfare institutions who were provided subsidized or complimentary stalls.
President Bilwani reiterated the urgent need for a modern, provincial-level Expo Center in Karachi and highlighted the city's dire infrastructure woes, including poor roads, drainage, traffic, encroachments, and rising street crime. He stressed on the Safe City Project and improved surveillance to ensure a secure environment conducive to business and investment. He also underlined the imbalance in gas and water distribution, demanding Sindh's due share and questioning the justification behind high water tariffs for Karachi, the country's largest tax-contributing city.
From cultural shows, fireworks, and musical performances to economic dialogue and international participation, the 20th My Karachi Exhibition truly lived up to its legacy of being more than just a trade show, it was a celebration of Karachi's soul. It reaffirmed the city's resilience, vibrancy, and critical role in Pakistan's economy. The event not only offered affordable shopping and family entertainment but also served as a platform for strategic dialogue between government, business leaders, and foreign missions.
The Karachi Chamber remains committed to further enhancing the scope and stature of My Karachi Exhibition in the years ahead, and to continue serving as the collective voice of the city's business community.
The 20th edition of the iconic 'My Karachi – Oasis of Harmony' Exhibition, organized by the Karachi Chamber of Commerce & Industry (KCCI), concluded at the Karachi Expo Center with resounding success, celebrating Karachi's entrepreneurial energy, cultural diversity, and untapped economic potential. Over three vibrant days, the Expo Center became a melting pot of commerce, culture, diplomacy, and innovation, attracting nearly 800,000 visitors and showcasing over 350 stalls by local and international exhibitors.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
1724919650-0%2FUntitled-design-(5)1724919650-0-640x480.webp&w=3840&q=100)

Express Tribune
an hour ago
- Express Tribune
Governor rules out talks with terrorists
Khyber-Pakhtunkhwa Governor, Faisal Karim Kundi, has declared that there will be no negotiations with those who defy the Constitution or challenge the writ of the state. He urged individuals supporting terrorists to cease providing them shelter, warning that intelligence-based operations will be conducted against them. Addressing the Qaumi Istehkam-e-Pakistan Conference in Peshawar and speaking to the media, the Governor emphasized that Pakistan's armed forces are capable of responding to any threat. "If our military can respond to our eternal enemy within 72 hours, a handful of terrorists hold no significance. They can be neutralized in minutes," he said. He added that while a large-scale military operation is not underway, intelligence-based actions are ongoing because locals do not want to be displaced again. Criticizing the provincial government, he said, "The K-P government is playing Jirga-Jirga while refusing to act decisively. We cannot hold talks with those who reject the Constitution." Addressing propaganda claims that the situation in certain areas is being worsened to exploit mineral resources, he countered, "If that's true, where are the mines in DI Khan, Tank, Lakki Marwat, and Bannu? This narrative is being used to undermine the army." On PTI's protests, Governor Kundi remarked that the party has been reduced to a "neighborhood group" and will soon be unable to hold rallies even in alleyways. He criticized CM Gandapur, calling him a "good boy" who has compromised on major issues. "It's unfortunate that the province's chief executive doesn't have time for Kashmiris," he added. Taking aim at PTI leader Omar Ayub, he said, "The grandson of a dictator should not lecture us on democracy. These are the same people who stood with Nawaz Sharif and General Musharraf, and are now aligned with Imran Khan. While we visit Garhi Khuda Bakhsh, they head to Corps Commander House." He recalled that PTI was handed a peaceful province in 2013 but failed to maintain law and order. Paying tribute to the armed forces, police, and security personnel, the Governor said, "It is the duty of every citizen to stand against terrorism. We want peace and prosperity in the province, which is rich in natural resources. Development, be it roads, schools, or hospitals, can only happen once peace is ensured." He stressed the need for better relations with neighboring countries but said Pakistan must rely on itself. "No savior will come from abroad," he said. Referring to past military victories, he stated, "The world called for peace when our army responded to Indian aggression. Even today, the Indian prime minister remains stunned by that response. The nation stood with the military then and continues to do so now." "We salute the martyrs of our armed forces, as well as the police and other officers who have sacrificed for the nation," he concluded.


Business Recorder
11 hours ago
- Business Recorder
US tariff relief offers boost, but Pakistan's high production costs still hamper exports
The United States has lowered its reciprocal tariff rate on Pakistani goods to 19%, compared to the 20–25% imposed on regional competitors such as India, Bangladesh, Vietnam, and Sri Lanka—offering a potential edge in the US market, which underscores the impact of Pakistan's diplomatic efforts to secure more favorable trade terms. However, this win may fall short of delivering substantial export gains unless Pakistan addresses persistent structural issues at home. Industry leaders and economists warn that high input costs—stemming from steep interest rates, costly energy tariffs, and reduced export financing incentives—continue to undermine the country's global trade competitiveness. 'The price of electricity remains the second-highest component after cotton in Pakistan's textile production costs,' said Jawed Bilwani, President of the Karachi Chamber of Commerce and Industry (KCCI). Textile exporters alarmed by 19pc US tariff decision He added that recent changes to the Export Finance Scheme (EFS) have also dampened export momentum. 'Retaining the EFS in its original form is vital for sustaining textile exports,' he emphasized. According to Dr. Usama Ehsan Khan, Head of Research at the Policy Research and Advisory Council (PRAC), despite the lower US tariff, Pakistan may not see a significant shift in orders from global buyers unless input costs are brought down. 'The tariff cut helps retain volume in the US market, but high production costs keep Pakistan's export prices uncompetitive,' he said. Khan pointed to three critical areas for immediate cost reductions: interest rates, power tariffs, and gas prices. He noted that Pakistan's central bank has kept its policy rate at 11%—well above inflation, which has recently fallen below the targeted 5–7% range. Peer economies, by contrast, are operating with rates between 3% and 10%. 'There's room for Pakistan to bring interest rates into single digits,' Khan said, arguing that such a move would lower the cost of doing business, spur exports, and ease debt servicing. 'Every 1% cut in the policy rate reduces interest payments by Rs200–250 billion annually,' he added. Power tariffs for Pakistani exporters, currently around $0.16 per unit, are also significantly higher than those in competitor countries, where rates range from $0.06 to $0.10. Khan suggested that Pakistan could lower electricity costs by shutting down expensive local plants and renegotiating contracts with foreign-owned independent power producers (IPPs). Gas tariffs, another burden on exporters, also require downward revision, he said, noting that a strategic reduction would enhance Pakistan's appeal as a manufacturing hub. A joint PRAC and KCCI infographic comparing Pakistan's input costs with those of regional competitors reveals further weaknesses. Pakistan's labor productivity, for instance, stands at just $7.20 in GDP per hour worked—well below the $8.70–$18 range of peer countries, except Cambodia, which stands at $4. As global trade dynamics shift and buyers seek reliable, cost-effective sourcing destinations, experts stress that Pakistan must enact bold domestic reforms to fully capitalize on external trade opportunities like the US tariff cut. 'Without reducing production costs, Pakistan risks missing out on the benefits of this hard-earned trade advantage,' Khan cautioned.


Business Recorder
11 hours ago
- Business Recorder
Pakistan's can-maker enhances production capacity
Pakistan Aluminium Beverage Cans Limited (PABC) has completed its debottlenecking and capacity enhancement project, increasing production capacity significantly by over 8%. The listed can-maker disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'With reference to our earlier announcement dated April 30, 2025, regarding the Board of Directors' approval of the debottlenecking and capacity enhancement project, we are pleased to inform that the project has been successfully completed within the projected timeline,' read the notice. PABC shared that the initiative was undertaken to address production bottlenecks and equalise line efficiencies, to improve overall operational performance and increase rated production capacity. 'We are pleased to report that these objectives have been successfully achieved. As a result, the Company's rated annual production capacity has increased from 1,200 million cans to 1,300 million cans, and the additional capacity is now commercially operational and available for use,' it informed. The company, engaged in the manufacturing and sale of aluminium cans, was of the view that the project would enhance its production capabilities in line with its long-term operational and capacity optimisation goals. Pakistan's only can-maker to enhance production capacity by 26% At the time of filing this report, the share of PABC was being traded at Rs165, up by Re4.62 or 2.88%. Back in 2022, PABC raised Rs4.6 billion against an offering of 94 million shares at a strike price of Rs 49 per share, 40% above the floor price of Rs35 per share. The plan was to raise Rs3.3 billion.