KARACHI: The Korangi Association of Trade and Industry (KATI) has proposed the adoption of a "Charter
of Karachi" aimed at bringing together key stakeholders to revive the city’s economy and provide
immediate relief to small and medium enterprises (SMEs) and traders. KATI’s leadership emphasized
that Karachi's economic stability is essential for Pakistan’s overall progress.
KATI President Junaid Naqi and Deputy Patron-in-Chief Zubair Chhaya led a delegation to congratulate
the newly elected leadership of the Karachi Chamber of Commerce and Industry (KCCI), including
President Javed Balwani, Senior Vice President Zia-ul-Arfeen, and Vice President Faisal Khalil, on their
electoral success. The KATI delegation also included Vice President Tariq Hussain and former presidents
Masood Naqi, Johar Qandhari, Ehtishamuddin, Rashid Siddiqui, Farrukh Mazhar, Danish Khan, Saleem-
uz-Zaman, and others.
During the meeting, Junaid Naqi highlighted the importance of prioritizing Karachi, calling it the
"economic hub" of Pakistan. He noted that the city’s neglect in recent years has negatively impacted
national exports, leading to economic instability. “To achieve economic stability, the business
community, town associations, and government must come together under the Charter of Karachi,”
Naqi said.
He added that although there are some encouraging developments, such as potential reductions in
interest rates and energy tariffs, these benefits have yet to reach small businesses. “The majority of KCCI
members are connected to small and medium trades. Unless these improvements filter down to them,
economic recovery will remain incomplete,” Naqi stressed. He urged for swift action to provide
grassroots relief and support to small traders.
Deputy Patron-in-Chief Zubair Chhaya echoed Naqi’s sentiments, pointing out that Karachi generates
more than 65% of Pakistan’s revenue and must be stabilized for the country's economic growth.
"Resolving the city’s infrastructure issues, excessive utility bills, water and sewage problems, and
reducing harassment from government agencies and street crime are essential steps,” Chhaya said.
He further announced that KATI would bring all stakeholders, including the government and business
community, together to build consensus on the Charter of Karachi. “Through collective action, we can
reduce dependency on imports, boost exports, and strengthen foreign exchange reserves,” Chhaya
added.
Chhaya also praised Javed Balwani, calling him a fearless leader committed to advocating for the
business community. “We have high hopes that under his leadership, KCCI will spearhead efforts to
resolve the challenges faced by traders and industrialists,” he said.
In response, KCCI President Javed Balwani thanked the KATI delegation for their support and assured
them that KCCI would work tirelessly to unite stakeholders and address pressing issues. “The Charter of
Karachi will help align efforts towards strengthening the business environment,” Balwani said.
