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Karachi Pakistan Attracts Foriegn Investment

Project Director, Tameer Karachi Programme, Rauf Akhtar Farooqi on Thursday said that Qatar government was interested in constructing a "city center" in Karachi at a cost of $1.5 billion. Talking to PTV about the mega projects in Karachi he said.

it was for the first time that federal government was taking interest in the development of Karachi and development projects worth Rs 29 billion were nearing completion. He said, mega project of Sohrab Got flyover would be completed in next two months. Phase one of it was already open for the public.

Another mega project is the reconstruction and rehabilitation of the road, which leads towards Korangi industrial area. It was the long awaited demand of the public, he said, adding this project would cost Rs 1.120 billion and would be completed in three months.

Farooqi said corridor one project, which included three flyovers, three underpasses was completed in record time of eight months, adding it had reduced pressure on the main highways. He said, similarly, the corridor two project, which was recently approved by City Nazim Mustafa Kamal would start from Sharah-e-Faisal and after passing through Gulistan-e-Johar and Gulshan Iqbal would terminate at Nazim Chorangi.

"We will never compromise on quality, all roads are of international standard and their life is 30 to 35 years," he added. He said every road had its drainage system and the underground system was being improved so that there was no need to break the road if there was any problem of leakage or drainage, adding all underground infrastructure had been improved.

He was optimistic that rainy season would not be a trouble for the citizens of Karachi. Farooqi said that increasing foreign direct investment in Karachi manifests that foreigners had full confidence in the city's future.

He said, Karachi elevated expressway was a project of $350 million and a Malaysian company was investing in this project. Malaysia was also constructing an Information Technology Tower in Karachi, which would be the largest building of Pakistan, he said adding it would be 47-story building and there would be 10,000 call centers in it.


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