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Investing in Karachi

The News, Pakistan, 30 August 2021 - Karachi, often referred to as a city of dreams and opportunities, is home to around 20 million people. It is a metropolis that welcomes everyone with open arms. According to the Economic Survey of Pakistan, at least 45,000 migrant workers come to Karachi every month from different parts of the country.

As per news reports, Karachi is growing in population at a rate of around five percent per year and has grown 60 times its size since Independence. However, this boom in growth has brought with it tons of challenges that have mainly arisen due to a lack of sufficient investment in infrastructure. As a result, Karachi can be seen as a prime example of how lack of adequate investments and the absence of efficient implementation of urban development protocols for the future may lead to many long-term consequences.

Take the water supply crisis; it stems largely from chronic underinvestment as whatever is being spent on it is typically ad-hoc and aimed at addressing immediate needs rather than long-term goals. The Karachi Water & Sewerage Board (KWSB) could not make sufficient investment for over a decade, even though their 2008 Master Plan estimated investment needs of over $2.5 billion to achieve universal access to safe and affordable drinking water by 2030. Consequently, Karachi’s supply of water remains 665 million gallons per day (MGD) against a demand of at least 1,200 MGD. Ninety-one percent of the city’s water supply remains unsuitable for drinking purposes and people are compelled to pay exorbitant amounts of money for tanker water.

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Source: https://www.thenews.com.pk/print/885102-investing-in-karachi

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