KARACHI – Mayor Karachi, Barrister Murtaza Wahab, has declared 2026 as the “Year of Completion” for Karachi’s development, announcing a massive investment of PKR 70 to 75 billion from the city’s budget, with total uplift projects expected to reach PKR 100 billion through inter-departmental collaborations. The Mayor made these remarks while laying the foundation stones for several multi-million rupee projects in District Korangi’s Shah Faisal Colony and Malir areas. Key officials including Deputy Mayor Salman Abdullah Murad and Parliamentary Leader Karamullah Waqasi accompanied him during the ceremony.
The center of these developments is the Azeempura Flyover and Road Rehabilitation project, costing approximately PKR 1.47 billion. This initiative includes a 700-meter flyover at the Azeempura Intersection, road rehabilitation from Malir River Bridge to Shama Shopping Centre, and a modern drainage system. To improve safety and visibility, 157 LED lights will be installed across the project site. Mayor Wahab emphasized that his team aims to complete this flyover within 100 days to provide immediate relief to residents and commuters from the Korangi Industrial Area.
In addition to the flyover, work has been initiated on the Jamia Millia Road reconstruction, spanning from Malir 15 to Millat Mor, which will facilitate hundreds of thousands of daily commuters. Other significant projects include the development of Liaquat Road, Mehran Depot Road, and Hashm Raza Road at a cost of PKR 205.6 million. Furthermore, a new underpass at Jinnah Avenue will be constructed in collaboration with the FWO, while the Munawwar Chowrangi underpass is slated for completion within a year.
Addressing the city’s governance, the Mayor highlighted that despite limited resources, the KMC has increased the monthly UC Chairman fund to PKR 1.3 million to address grassroots issues. To manage traffic flow, 350 dedicated traffic wardens have been deployed across Karachi. Coinciding with International Women’s Day, the Mayor also paid tribute to Fatima Jinnah and Benazir Bhutto, reiterating the PPP’s commitment to ensuring equal rights and opportunities for women in Sindh.
Monetary Policy Brief
New Monetary Policy: State Bank Maintains Interest Rate at 10.5% In a recent announcement, the State Bank of Pakistan (SBP) has decided to keep the key policy rate unchanged at 10.5%. This decision aims to balance economic stability while continuing efforts to curb inflation across the country.
