The government has approached the World Bank for aid in restructuring the “Competitive and Livable City of Karachi Project,” worth $230 million.
The Karachi project, which was launched to solve critical concerns including urban mobility, transportation infrastructure, and wastewater management in Karachi, has encountered several challenges from its beginning. Given all of these obstacles, the government has asked the World Bank to reorganize the project to overcome them and move forward more quickly.
The project has been reorganized three times:
- (i) On May 18, 2022, execution oversight of Component 2- Modernizing Urban Property Tax Administration and Systems was transferred from the Excise, Taxation, and Narcotics Department (E&TD) to the Local Government Department (LGD)
- (ii) on September 20, 2022, when Component 5-CERC was added; and
- (iii) on January 26, 2023, when the CERC was activated and funds were reallocated to the CERC.
The decision by the government to incorporate the World Bank in the restructuring process demonstrates its commitment to openness and accountability in development project management. By using foreign partners’ experience and resources, the government hopes to increase its ability to implement significant initiatives that benefit Karachi residents and contribute to the city’s long-term growth.
As negotiations between the government and the World Bank advance, parties are excited about the restructuring’s potential benefits. It is intended that this combined effort would prepare the path for the effective execution of the Karachi Project, resulting in demonstrable improvements to the city’s infrastructure and citizens’ quality of life.
