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Written by: karachiwala on November 19, 2017

KARACHI: Iraqi Ambassador in Pakistan Dr Ali Yasin Mohammad Kareem has said there is a lot of attraction and opportunities for investment in Sindh, particularly in Karachi, and Iraqi entrepreneurs are keen to make investment in the metropolis.

The Iraqi investment would strengthen Pakistan-Iraq relations, he said during his meeting with Sindh Governor Mohammad Zubair at Governor’s House on Tuesday.

They exchanged views about Pak-Iraq economic coordination in different fields, opportunities of investment in the province and matters of mutual interest.

The ambassador said that like other countries of the world, Iraq also conceded that peace was restored and law and order improved in Pakistan. He said that Pakistan’s armed forces got their capability recognised by the world in a difficult war against terrorism by making the ‘impossible war’ possible.

Responding to the views of the Iraqi ambassador, the governor said that Iraqi investors’ interest in the province, Karachi in particular, would further promote bilateral relations. He said that because of its geographical location, Pakistan’s role in promoting peace was extremely important.

He said Karachi, being a major industrial and business centre, was the economic hub of Pakistan and investment by foreign entrepreneurs would give a boost to the image of Pakistan. The governor said that Iraq was a friendly Islamic country whose ties with Pakistan spread over several decades and their relations also existed at the level of the people of the two countries.

The Iraqi ambassador later also called on Karachi Mayor Wasim Akhtar at his office in the KMC building where they discussed areas which could be explored to further increase the trade relations between the two countries.

Pakistan-Romania Business Council

Besides the Iraqi ambassador, a 12-member delegation of Pakistan-Romania Business Council, led by Sohail Shamim Firpo, called on the governor and discussed bilateral economic relations, investment opportunities in different fields and other matters of mutual interest.

The governor pointed out that Pakistan’s economic future was linked with the economic progress of Karachi. After restoration of law and order, the city had become an ideal place for investment, he said, adding that Romanian investors ought to be informed about the atmosphere conducive for investment as the government was providing every possible assistance, security and cooperation to the investors.

Mr Zubair said with the completion of China-Pakistan Economic Corridor, a new era of development and prosperity would dawn in Pakistan that would generate opportunities of employment and business.

The delegation informed the governor that Romania was also keen to participate in CPEC.

Mr Firpo said that Pak-Romania Business Council was striving to increase volume of mutual trade and strengthen further mutual interest. At present, he said, Pakistan was exporting textile, leather goods and cotton to Romania.

I Am Karachi

Talking to a delegation of “I am Karachi”, Gov Zubair said he was proud to be a Karachiite and said it was the responsibility of all residents to restore its lost glory and make it a modern developed city of the world.

The governor said that the overall atmosphere in Karachi after restoration of peace had become conducive for investment as economic, cultural, social and literary activities were being organised at every level till late night. “Karachi once again is becoming the City of Lights,” he added.

He assured his cooperation to the civil society organisation.

Written by: karachiwala on November 12, 2017

Karachi is the capital of the province of Sindh, and the largest city in Pakistan. Located on the coast of the Arabian Sea, north-west of the Indus River Delta, the mega city is the largest city, original capital and cultural, economical, philanthropic, educational, and political hub, as well as the largest port, of the country.

The metropolitan area along with its suburbs comprises the world’s second most populated city, spread over 3,530 square kilometers. The city credits its growth to the mixed populations of economic and political migrants and refugees from different national, provincial, linguistic and religious origins who have largely come to settle here permanently.

It is locally termed as the City of Lights for its liveliness and the City of The Quaid, for not only being both the birth and death place of Quaid-e-Azam Muhammad Ali Jinnah the founder of Pakistan but also his home after 1947. Residents and those born in the city are called “Karachiites”.

HISTORY

Dayaram Jethmal College (D.J. College) in the 19th century

The area of Karachi was known to the ancient Greeks by many names: Krokola, the place where Alexander the Great camped to prepare a fleet for Babylonia after his campaign in the Indus Valley; ‘Morontobara’ (probably Manora island near Karachi harbour), from whence Alexander’s admiral Nearchus set sail; and Barbarikon, a port of the Bactrian kingdom. It was later known to the Arabs as Debal from where Muhammad bin Qasim led his conquering force into South Asia in 712 AD[14]

Karachi was founded as “Kolachi” by Sindhi and Baloch tribes from Balochistan and Makran, who established a small fishing community in the area.[15] Descendants of the original community still live in the area on the small island of Abdullah Goth, which is located near the Karachi Port.The original name “Kolachi” survives in the name of a well-known Karachi locality named “Mai Kolachi” in Sindhi. Mirza Ghazi Beg, the Mughal administrator of Sindh, is among the first historical figures credited for the development of Coastal Sindh (consisting of regions such as the Makran Coast and the Mehran Delta), including the cities of Thatta, Bhambore and Karachi.

Elphinstone Street in 1930

During the rule of the Mughal administrator of Sindh, Mirza Ghazi Beg, the city was well fortified against Portuguese colonial incursions in Sindh. During the reign of the Kalhora Dynasty, the present city started life as a fishing settlement when a Sindhi Balochi fisher-woman called Mai Kolachi took up residence and started a family. The city was an integral part of the Talpur dynasty in 1720.

The village that later grew out of this settlement was known as Kolachi-jo-Goth (Village of Kolachi in Sindhi). By the late 1720s, the village was trading across the Arabian Sea with Muscat and the Persian Gulf region. The local Sindhi populace built a small fort, that was constructed for the protection of the city, armed with cannons imported by Sindhi sailors from Muscat, Oman. The fort had two main gateways: one facing the sea, known as Kharra Darwaaza (Brackish Gate) (Kharadar) and the other facing the Lyari River known as the Meet’ha Darwaaza (Sweet Gate) (Mithadar). The location of these gates correspond to the modern areas of Kharadar (Khārā Dar) and Mithadar (Mīṭhā Dar).

ECONOMY & CULTURE

Karachi is the financial and commercial capital of Pakistan. In line with its status as a major port and

The MCB Tower

 

the country’s largest metropolis, it accounts

Revenue collected from Karachi includes revenue from some other areas since the Large Tax Unit (LTU) Karachi and Regional Tax Offices (RTOs) Karachi, Hyderabad, Sukkur & Quetta cover the entire province of Sindh and Balochistan. Karachi’s indigenous contribution to national revenue is around 25%.

Karachi’s contribution to Pakistan’s manufacturing sector amounts to approximately 30 percent. A substantial part of Sindh’s gross domestic product (GDP) is attributed to Karachi (the GDP of Sindh as a percentage of Pakistan’s total GDP has traditionally hovered around 28%-30%;

 

Ocean Towar

Most major foreign multinational corporations operating in Pakistan have their headquarters in Karachi. The Karachi Stock Exchange is the largest stock exchange in Pakistan, and is considered by many economists to be one of the prime reasons for Pakistan’s 8% GDP growth across 2005.

Karachi has seen an expansion of information and communications technology and electronic media and has become the software outsourcing hub of Pakistan. Call centres for foreign companies have been targeted as a significant area of growth, with the government making efforts to reduce taxes by as much as 10% in order to gain foreign investments in the IT sector. Many of Pakistan’s independent television and radio stations are based in Karachi, including world-popular Business Plus, AAJ News, Geo TV, KTN, Sindh TV, CNBC Pakistan, TV ONE, ARY Digital, Indus Television Network, Samaa TV and Dawn News, as well as several local stations.

Karachi has several large industrial zones such as Karachi Export Processing Zone, SITE, Korangi, Northern Bypass Industrial Zone, Bin Qasim and North Karachi, located on the fringes of the main city. Its primary areas of industry are textiles,

 

Satellite view of Karachi

pharmaceuticals, steel, and automobiles. In addition, Karachi has a vibrant cottage industry and there is a rapidly flourishing Free Zone with an annual growth rate. The Karachi Expo Centre hosts many regional and international exhibitions. There are many development projects proposed, approved and under construction in Karachi.

As one of the most rapidly growing cities in the world, Karachi faces challenges that are central to many developing metropolises, including traffic congestion, pollution, poverty and street crime. These problems continue to earn Karachi low rankings in livability comparisons:

Administration

The first form of government was a conservancy board established in 1846 to control the spread of cholera in the city. The board became a municipal commission in 1852, and a municipal committee the following year. The City of Karachi Municipal Act of 1933 transformed the city administration into a municipal corporation with a mayor, a deputy mayor and 57 councillors. In 1948, the Federal Capital Territory of Pakistan was created, comprising approximately 2,103 km2 (812 sq mi) of Karachi and surrounding areas, but this was merged into the province of West Pakistan in 1961. However, the municipal corporation remained in existence and in 1976 became a metropolitan corporation, followed by the creation of zonal municipal committees, which lasted until 1994. Two years later the metropolitan area was divided into five districts, each with a municipal corporation.

Civic Centre,
the main offices of the Karachi Metropolitan Corporation

 

in 2001, five districts of Karachi were merged to form the city district of Karachi. It was structured as a three-tier federation, with the two lower tiers composed of 18 towns and 178 union councils, with each tier focussed on elected councils with some common members to provide “vertical linkage” within the federation. Each union council comprised thirteen members elected from specified electorates: four men and two women elected directly by the general population; two men and two women elected by peasants and workers; one member for minority communities; two members are elected jointly as the union mayor (nazim) and deputy union mayor (naib nazim). Each town council was comprised all of the deputy union mayors in the town as well as elected representatives for women, peasants and workers, and minorities. The district council was comprised all of the union mayors in the district as well as elected representatives for women, peasants and workers, and minorities. Each council was also included up to three council secretaries and a number of other civil servants. Naimatullah Khan was the first Nazim of Karachi and Shafiq-Ur-Rehman Paracha was the first district coordination officer (DCO) of Karachi, Paracha even served as the last Commissioner of Karachi. Syed Mustafa Kamal was elected City Nazim of Karachi to succeed Naimatullah Khan in 2005 elections, and Nasreen Jalil was elected as the City Naib Nazim.

Location of Karachi

Again in 2011, City District Government of Karachi has been de-merged into its five original constituent districts namely Karachi East, Karachi West, Karachi Central, Karachi South and District Malir. These five districts form the Karachi Division now. City administrator is Muhammad Hussain Syed and Municipal Commissioner of Karachi is Matanat Ali Khan. There are also six military cantonments which are administered by the Pakistan Army.

Art and culture

Karachi is home to some of Pakistan’s important cultural institutions. The National Academy of Performing Arts, located in the newly renovated Hindu Gymkhana, offers a two-year diploma course in performing arts that includes classical music and contemporary theatre. The All Pakistan Music Conference, linked to the 45-year-old similar institution in Lahore, has been holding its Annual Music Festival since its inception in 2004. The Festival is now a well-established feature of the city life of Karachi that is attended by more than 3000 citizens of Karachi as well as people from other cities. The National Arts Council (Koocha-e-Saqafat) has musical performances and mushaira (poetry recitations). The

National Museum of Pakistan

Kara Film Festival annually showcases independent Pakistani and international films and documentaries. Karachi is home to many theatre, music and dance performance groups, such as Thespianz Theater, a professional youth-based, non-profit performing arts group, which works non-stop on theater and arts activities in Pakistan. A well developed Fashion website serving Pakistani fashion industry is FORMA.pk.

Karachi has many museums that present exhibitions on a regular basis, including the Mohatta Palace and the National Museum of Pakistan. Karachi Expo Centre hosts many regional and international exhibitions.

Mohatta Palace

The everyday lifestyle of Karachi differs substantially from that of other Pakistani cities and towns. The culture of Karachi is characterized by the blending of South Asian, Middle Eastern, Central Asian and Western influences, as well as its status as a major international business centre. Karachi hosts the largest middle class stratum of the country and is the most liberal city in Pakistan.

Architecture

Karachi has a rich collection of buildings and structures of varied architectural styles. Many modern high-rise buildings are under construction. The downtown districts of Saddar and Clifton contain a variety of early 20th-century architecture, ranging in style from the neo-classical KPT building to the Sindh High Court Building. During the period of British rule, classical architecture was preferred for monuments of the British Raj. Karachi acquired its first neo-Gothic or Indo-Gothic buildings when

3 Talwar (Swords), Clifton, Karachi

Frere Hall, Empress Market and St. Patrick’s Cathedral were completed. The Mock Tudor architectural style was introduced in the Karachi Gymkhana and the Boat Club. Neo-Renaissance architecture was popular in the 19th century and was the language for St. Joseph’s Convent (1870) and the Sind Club (1883). The classical style made a comeback in the late 19th century, as seen in Lady Dufferin Hospital (1898) and the Cantt. Railway Station. While Italianate buildings remained popular, an eclectic blend termed Indo-Saracenic or Anglo-Mughal began to emerge in some locations. The local mercantile community began acquiring impressive mercantile structures. Zaibunnisa Street in the Saddar area (known as Elphinstone Street in British days) is an example where the mercantile groups adopted the Italianate and Indo-Saracenic style to demonstrate their familiarity with Western culture and their own. The Hindu Gymkhana (1925) and Mohatta Palace are the example of Mughal revival buildings. The Sindh Wildlife Conservation Building, located in Saddar, served as a Freemasonic Lodge until it was taken over by the government. There are talks of it being taken away from this custody and being renovated and the Lodge being preserved with its original woodwork and ornate wooden staircase.

Dolmen City Karachi

In recent years, a large number of architecturally distinctive, even eccentric, buildings have sprung up throughout Karachi. Notable examples of contemporary architecture include the Pakistan State Oil Headquarters building and the Karachi Financial Towers. The city has numerous examples of modern Islamic architecture, including the Aga Khan University hospital, Masjid e Tooba, Faran Mosque, Bait-ul Mukarram Mosque, Quaid’s Mausoleum, and the Textile Institute of Pakistan. One of the unique cultural elements of Karachi is that the residences, which are two- or three-story townhouses, are built with the front yard protected by a high brick wall. Ibrahim Ismail Chundrigar Road features a range of extremely tall buildings. The most prominent examples include the Habib Bank Plaza, PRC Towers and the MCB Tower which is the tallest skyscraper in Pakistan.

Many more high-rise buildings are under construction, such as Centre Point near Korangi Industrial Area, IT Tower, Sofitel Tower Karachi and Emerald Tower. The Government of Sindh recently approved the construction of two high-density zones, which will host the new city skyline.

Fashion, shopping and entertainment

Port Grand Food and Entertainment Complex

The night life in Karachi is believed to be the best in all of Pakistan. Karachi is also known as city of lights and the city which never sleeps. Almost every day entertainment events are held in Karachi ranging from fashion shows, concerts, or even small gigs at local cafes.

Karachi has always been proactive in organizing large events but because of the political and economic crisis in the country, activities have recently been slowed down. Karachi continues to host many different cultural and fashion shows. In 2009 a four-day-long fashion show was organized in Karachi’s luxury Marriott hotel. Karachi has many glitzy shopping malls in the Clifton area, Tariq Road, Gulshan-e-Iqbal and Hyderi shopping area, such as Park Towers, The Forum, Dolmen Mall and Millenium Mall. Zamzama Boulevard is known for its designer stores and many cafes. There are many bazaars in Karachi selling different merchandise. The famous bazaars include Bohri Bazaar, Soldier Bazaar, and Urdu Bazaar. Foreign clothes brands and famous Pakistani fashion labels (such as Amir Adnan, Aijazz, Rizwan Beyg, Deepak Perwani, Shayanne Malik, Maria B, Khaadi, Sputnik Footwear, Metro Shoes, English Boot House, Cotton & Cotton, Men’s Store and Junaid Jamshed) are present in shopping districts of the city. The newly built shopping center Port Grand Food and Entertainment Complex is located at Port of Karachi near Native Jetty Bridge.

Education

Bai Virbaijee Soparivala (B.V.S.) Parsi High School

Karachi is the most educated city of Pakistan, with the highest literacy rate along with a gross enrollment ratio of 111%, the highest in Sindh. Education in Karachi is divided into five levels: primary (grades one through five); middle (grades six through eight); high (grades nine and ten, leading to the Secondary School Certificate); intermediate (grades eleven and twelve, leading to a Higher Secondary School Certificate); and university programs leading to graduate and advanced degrees. Karachi has both public and private educational institutions. Most educational institutions are gender-based, from primary to university level.

Karachi Grammar School is the oldest school in Pakistan and has educated many Pakistani businessmen and politicians. The Narayan Jagannath High School in Karachi, which opened in 1855, was the first government school established in Sindh. Other well-known schools include the Hamdard Public School, Education Bay [EBay] school located in karachi (for higher education) Army Public School (C.O.D.), Karachi Public school, British Overseas School, L’ecole for Advanced Studies, Bay View Academy, the CAS School, Generations School, Karachi American School, Aga Khan Higher Secondary School, the Froebel Education Centre (FEC), The Paradise School and College, Grand Folk’s English School, cordoba school for a levels (founded in 1902 by r.j.k), Habib Public School, AL-Murtaza School Mama Parsi Girls Secondary School, B. V. S. Parsi High School, Civilizations Public School, The Oasys School, Avicenna School, The Lyceum School, Ladybird Grammar School, The City School, ABC Public School, Beaconhouse School System, The Educators schools, Sultan Mohamed Shah Aga Khan School, Shahwilayat Public School, Springfield School, St Patrick’s High School, St Paul’s English High School, St Joseph’s Convent School, St Jude’s High School, St Michael’s Convent School, Foundation Public School,Aisha Bawanay Academy, Karachi Gems School, Aga Khan School Kharadar, St Peter’s High School and Chiniot Islamia School.

National Academy of Performing Arts

The University of Karachi, known as KU, is Pakistan’s largest university, with a student population of 24,000 and one of the largest faculties in the world. It is located next to the NED University of Engineering and Technology, the country’s oldest engineering institute. In the private sector, The National University of Computer and Emerging Sciences (NUCES-FAST), one of Pakistan’s top universities in computer education, operates two campuses in Karachi. Sir Syed University of Engineering and Technology (SSUET) provides reputable training in biomedical engineering, civil engineering, electronics engineering, telecom engineering and computer engineering. Dawood College of Engineering and Technology, which opened in 1962, offers degree programmes in electronic engineering, chemical engineering, industrial engineering, materials engineering and architecture. Karachi Institute of Economics & Technology (KIET) has two campuses in Karachi and has been growing rapidly since its inception in 1997. The Plastics Technology Center (PTC), located in Karachi’s Korangi Industrial Area, is at present Pakistan’s only educational institution providing training in the field of polymer engineering and plastics testing services. The Institute of Business Administration (IBA), founded in 1955, is the oldest business school outside of North America. The Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST), founded in 1995 by Benazir Bhutto, is located in Karachi, with its other campuses in Islamabad, Larkana and Dubai. Pakistan Navy Engineering College (PNEC) is a part of the National University of Sciences and Technology (NUST), offering a wide range of engineering programs, including electrical engineering and mechanical engineering. Hamdard University is the largest private university in Pakistan with faculties including Eastern Medicine, Medical, Engineering, Pharmacy, and Law. It has got Asia’s second largest library called ‘BAIT UL HIKMA’. Jinnah University for Women is the first women university in Pakistan. Karachi is home of the head offices of the Institute of Chartered Accountants of Pakistan (ICAP) (established in 1961) and the Institute of Cost and Management Accountants of Pakistan (ICMAP). Among the many other institutions providing business education are the Institute of Business Management (IoBM), SZABIST, Iqra University and the Institute of Business and Technology (Biztek). Leading medical schools of Pakistan like the Dow University of Health Sciences and the Aga Khan University are situated in Karachi. PLANWEL is another innovative institution it is a CISCO Network Academy as well as iCBT center for ETS Prometric and Pearsons VUE. Bahria University also has a purpose-built campus in Karachi.Mohammad Ali Jinnah University (MAJU) is a private university in Pakistan. The main campus is in Karachi; the other campus is in Islamabad. The College of Accounting and Management Sciences (CAMS) also has three branches in the city. Sindh Muslim Govt. Science College located at Saddar Town is the eldest college in Karachi.

For religious education, the Jamia Uloom ul Islamia (one of the largest Islamic education centres of Asia), Jamia Binoria and Darul ‘Uloom Karachi are among the Islamic schools in Karachi.

Transport

CNG Bus
Road
Traffic problems and pollution are major challenges for Karachi. The level of air pollution in Karachi is significantly higher than World Health Organization standards. A number of new parks (e.g., Bagh Ibne Qasim, Beach View Park and Jheel Park) have been developed and new trees are being planted in the city to improve the environment and reduce the pollution. The construction of new bridges/ flyovers, underpasses and signal-free corridors (e.g., Corridor 1: S.I.T.E. to Shahrae Faisal, Corridor 2: North Karachi to Shahrae Faisal, Corridor 3: Safora Goth to Saddar) has improved the traffic flow in Karachi. The eventual completion of Corridor 4 (from the airport to Metropole Hotel) is expected to substantially reduce the travel time to reach the city centre and airport.

Traffic in Karachi

Lyari Expressway is a highway currently under construction along the Lyari River in Karachi, Sindh, Pakistan. Lyari Expressway’s North bound section is currently under construction, While the South bound corridor is now completed and it was inaugurated for traffic. This toll highway is designed to relieve congestion in the city of Karachi. Karachi Northern Bypass (M10) begins north of Karachi at the end of Mohammad Ali Jinnah Road, near the junction of the M9. It then continues north for a few kilometers before turning west, where it forms an interchange with the N25. After this interchange it eventually turns south back towards Karachi and merges onto the KPT Flyover at Karachi Port.

Rail

Rail in Karachi

Karachi is linked by rail to the rest of the country by Pakistan Railways. The Karachi City Station and Karachi Cantonment Railway Station are the city’s two major railway stations. The railway system handles a large amount of freight to and from the Karachi port and provides passenger services to people traveling up country. A project to transform the existing, but non-operational, Karachi Circular Railway into a modern mass transit system had been approved by the government but has been delayed to 2013 due to lack of funds. The $1.6 billion project will be financed by the Japan Bank for International Cooperation and will be completed by 2013. The city government has introduced an initiative to alleviate the transport pains by introducing new CNG buses.

Air

Airlines in Karachi

The Jinnah International Airport is located in Karachi. It is the largest and busiest airport of Pakistan. It handles 10 million passengers a year. The airport receives the largest number of foreign airlines, a total of 35 airlines and cargo operators fly to Jinnah International predominantly from the Middle East and Southeast Asia. All of Pakistan’s airlines use Karachi as their primary transport hub including PIA – Pakistan International Airlines, Airblue, and Shaheen Air International. The city’s old airport terminals are now used for Hajj flights, offices, cargo facilities, and ceremonial visits from heads of state. U.S. Coalition forces used the old terminals for their logistic supply operations as well. The city has two other airstrips, used primarily by the armed forces.

Sea

Ship in Karachi Navy

The largest shipping ports in Pakistan are the Port of Karachi and the nearby Port Qasim. These seaports have modern facilities and not only handle trade for Pakistan, but serve as ports for Afghanistan and the landlocked Central Asian countries. Plans have been announced for new passenger facilities at the Port of Karachi. Recently Port Qasim Authority (PQA) has announced that an implementation agreement is being signed for the development of a ‘pollution free’ Coal, Cement and Clinker Terminal (CCCT) worth $175 million with a handling capacity of up to eight million tons per year at port. This step would save the environment from irreparable damages and the health of the port workforce and nearby populations from serious respiratory diseases which would have been a serious threat if the powdery coal was handled in open / bulk on berths at port.

Written by: karachiwala on November 7, 2017

A Memorandum of Understanding (MOU) signing ceremony on behalf of the TiE Karachi Chapter, Wadhwani Foundation and MIT Enterprise Forum of Pakistan was held in the offices of Jaffer Business Systems on Monday, August 31, 2015 to promote discourse between startups and funders.

Karachi, Pakistan – ​​​The Indus Entrepreneurs (TiE) KARACHI CHAPTER, MIT ENTERPRISE FORUM OF PAKISTAN AND WADHWANI FOUNDATION USA COLLABORATE TO DEVELOP ANGEL INVESTMENT INDUSTRY

A Memorandum of Understanding (MOU) signing ceremony on behalf of the TiE Karachi Chapter, Wadhwani Foundation and MIT Enterprise Forum of Pakistan was held in the offices of Jaffer Business Systems on Monday, August 31, 2015 to promote discourse between startups and funders.

The MOU was signed by Mr Veqar ul Islam, President, TiE Karachi Chapter (also CEO, Jaffer Business Systems & President, Touchpoint) and Mr Azhar Rizvi, Co-Chairman, MITEFP.


“TIE Karachi believes in the principles of the power of ideas to change the face of entrepreneurship and growing business through our five pillars; mentoring, networking, education, incubating and funding. TIE Karachi has been working to promote startups through its programs. The time is now right to introduce sources of angels funding and providing a credible structure for the benefit of both investors and startups. The collaboration of these groups would catapult Pakistan’s economy.””

The MOU strongly validates the commitment of the three organizations to fulfill the objective of addressing the gap between demand and supply of credible funding sources for early stage investors, working towards bridging the gap between angel investors and aspiring startups, as well as promoting effective economic cooperation through undertaking training and capacity building activities.

TiE Karachi-MIT Enterprise Forum of Pakistan and Wadhwani Foundation USA will facilitate cooperative initiatives in the area of sustainable development of the entrepreneurial ecosystem of Pakistan to raise awareness and information sharing amongst key stakeholders. The yearlong program would include a series of discussions, workshops and conferences. At the end of this exercise the collaboration aims to create awareness of the Angel Investment opportunities in Pakistan as well as develop a credible high-level road map for developing this industry. Also, there are plans to showcase a great variety of talent, ideas and startups via an expo and invite investors to create an angel investment fund.

“With the startup culture maturing in Pakistan and several foreign and local investments successfully being made in entrepreneurial ventures. But with the maturity of the ventures, to now take them to the next level, a formalized structure and roadmap needs to be developed to address funding gaps in the venture life cycle of the startup. We feel this is the right time to developing and nurturing an Angel Investor Industry in Pakistan.”, said Mr. Azhar Rizvi, Co-chairperson of MITEFP.

Mr Veqar-ul Islam, President of TIE Karachi added, “TIE Karachi believes in the principles of the power of ideas to change the face of entrepreneurship and growing business through our five pillars; mentoring, networking, education, incubating and funding. TIE Karachi has been working to promote startups through its programs. The time is now right to introduce sources of angels funding and providing a credible structure for the benefit of both investors and startups. The collaboration of these groups would catapult Pakistan’s economy.”

The Indus Entrepreneurs (TiE) – Karachi Chapter is a global not-for-profit network dedicated to the advancement of entrepreneurship. The Chapter is dedicated to the virtuous cycle of wealth creation and giving back to the community.

MIT Enterprise Forum of Pakistan (MITEFP) is a not for profit organization, formed under the laws of Pakistan which is totally dedicated to fostering entrepreneurship and innovation in Pakistan.

MITEFP is a joint venture partner of WOF in Pakistan, Through their partnership agreement with MITEFP, WOF agrees to come in as the knowledge partner for participating in the programs that TIE-MITEFP-WOF jointly co-host.

TIE Karachi Profile

TiE – TiE is also recognised and known as Talent Ideas & Enterprise is a non profit organisation. The objective is to promote entrepreneurship and that we fulfil through mentoring, networking, education, incubating and funding.

To date, TiE has around 12,000 members, 20+ TiEcons (flagship conference) per year, 61 chapters, 18 countries, 25+ million angel investments, 150+ successful IPOs, 75+ angel invested companies and 100+ events per month.

The TiE Karachi Chapter enjoys the largest network of ambassadors, entrepreneurs and senior corporate professionals in Pakistan. TiE Karachi Chapter has been operating since over a decade now and it’s moved to multiple high profile individuals who have been passionate enough to make it what it is today. Today the Chapter is known to run its flagship conference TiEcon in its very own style that attracts the high profile entrepreneurs of the region.

MIT Enterprise Forum of Pakistan

http://mitef-pakistan.org/aboutus.htm

MITEFP’s mission is to improve the economic well-being of the people of Pakistan through development of Entrepreneurship Promotion Program (EEP) for Pakistan. This is in line with MITEF’s global mission of promoting formation and growth of innovative and technologically-oriented companies through specialized executive education programs. Through these programs, the Forum provides networking, leadership opportunities, and life-long connections to MIT while showcasing MIT’s role in entrepreneurship to communities around the world.

MITEFP’s mission is to improve the economic well-being of the people of Pakistan through development of Entrepreneurship Promotion Program (EEP) for Pakistan. This is in line with MITEF’s global mission of promoting formation and growth of innovative and technologically-oriented companies through specialized executive education programs. Through these programs, the Forum provides networking, leadership opportunities, and life-long connections to MIT while showcasing MIT’s role in entrepreneurship to communities around the world.

MITEFP in partnership with OPEN (Organization of Pakistani Entrepreneurs), MIT Alumni of Pakistan and other Pakistani well-wishers works towards ensuring availability of a large pool of entrepreneurs, investors in individual capacity or working in groups and organizations, promotion of existing mechanisms, and creation of an enabling environment for entrepreneurship to flourish.

Wadhwani Foundation

http://wadhwani-foundation.org/initiatives/nen-pakistan/

Wadhwani Foundation’s flagship initiative, National Entrepreneurship Network (NEN) was launched in Pakistan in 2014 to provide a systematic and structured strategy towards building an entrepreneurial ecosystem in the country.

Over the last decade, NEN has demonstrated a highly successful model that promotes entrepreneurship through both creating and supporting entrepreneurs, and facilitating job creation in the process. With a network of over 600 colleges, 4000 mentors and 3200 faculty, NEN has resulted in 2,000 new startups and is now tracking 1,500+ new companies each year. The scalable model of NEN, its resources and IP are especially contextualized for emerging economies like Pakistan and deployment of these will facilitate development of entrepreneurship.

Written by: karachiwala on November 7, 2017
Written by: karachiwala on November 7, 2017

By Amna Mishal

Pakistan is a nation that’s been gripped for years by political instability, sectarian violence, natural disasters, and poverty. It is also home to one of the world’s largest populations of young people, entrepreneurs of tomorrow, who are transforming Pakistan into a high-tech powerhouse. Karachi is home to some innovators, who are hoping that today’s generation will fuel Pakistan’s rise to becoming the next tech hub.

Umair Aziz on why he opted for Pakistan for his startup

Creative Chaos is one of Asia’s fastest growing tech start-up company founded by Umair Aziz. The company comprises of a team of Web site developers currently working on a project for Coca-Cola which will go up in 27 to 28 different countries. Previously, Creative Chaos has worked with Amazon, Microsoft and Intel.

Umair Aziz reported his one and ONLY secret to success is keeping the location of the company discreet. Karachi. Karachi – is indeed a chaotic commercial capital of Pakistan, that ranks as one of the world’s most violent. According to him

“We don’t want to be out of the race by advertising that we’re based in Pakistan. There’s a very negative stigma associated with the country.”

It is unfortunate that a robust startup like Creative Chaos cannot operate in the international market with Pakistan being associated to its profile. Hence, prospective customers see nothing on Creative Chaos’ Web site about its location. Technically, it’s headquartered in San Francisco. There was one time, during a collaboration with a company, when the client found out that almost all workers are based in Pakistan. Once hired, Aziz says, his company has never been removed from a job which is the company’s greatest pride.

“People in the U.S. really don’t know that there’s a world outside of Taliban, and there’s a world outside of, everything that they hear on CNN and BBC all the time.”

In this world projected as the ‘world of terror’ Aziz carved out a profitable niche back in 2000. Umair Aziz, graduate from Ohio, decided to return back to his native city Karachi leaving his job at a tech firm in Boston. He was confident that there were hundreds and thousands of people like him who could join him and his organization. He expresses

“It was a risk, but I was betting on the talent. I was betting on people just like me.”

Umair is one of a handful of thriving Pakistani start-ups, designing Websites, databases and applications for global clients. Statistics shows a healthy 35 percent annual growth in the tech sector and Aziz expects his firm to grow fivefold by 2020.

See Also: Can Karachi be the Silicon Valley of Pakistan?

Jehan Ara believes in the immense potential of youth in Pakistan

In raw numbers, though, that talent pool could be a lot larger, says Jehan Ara – President – The Nest, a tech entrepreneur. The country’s population is about 200 million people and 70 percent of them below the age of 30. According to Jehan’s vision, the potential is amazing in the young talented pool. She strives to figure out on how to channel this potential efficiently and is leading an effort to scout that talent, trying to create what the technology business calls an ecosystem to foster creativity and new business.

Jehan Ara is the founder of The Nest which is one of a handful of so-called incubators that have been built in Pakistan. At this incubator, 13 teams of techies chosen from more than a hundred applicants are working on what a panel of judges decided were promising business ideas.

“We are looking for young people who’ve developed a minimum viable product themselves while at home or at university and we know that they are committed to doing this. And then, once they get here, then we can help them further.”

This for Pakistan, is a rare work environment, and not just because it’s offered for free to potential entrepreneurs but also because it has reliable power, broadband and hardware which many cannot afford on their own. Nest also offers a connection to global resources from donors to the facility, including Google and Samsung.

The U.S. government also financially supports The Nest. At Nest, incubatees practice their pitches in speed dating sessions, which is a classic Silicon Valley approach to lure investors. They also subject each other to sometimes withering critiques.

“It’s only when the local investors get really interested that the industry is going to take off, the start-up culture is going to take off.” says Jehan Ara.

Conclusion

One big worry is Pakistan’s precarious security situation, which could drive many entrepreneurs to take off, but for jobs abroad. Yet people like Umair, Jehan and many others leave secure jobs abroad to come back home and bring a change in entrepreneurial ecosystem of Pakistan for a better tomorrow.

This report was made for the PBS NewsHour, by Fred de Sam Lazaro in Karachi, Pakistan in a partnership with the Under-Told Stories Project at Saint Mary’s University of Minnesota.

Written by: karachiwala on November 7, 2017

When it comes to famous landmarks in the city, Bohri Bazaar is perhaps an area all are expected to be familiar with as its known as the go-to market for almost everything. The two-day ‘Bohra Bazaar Fun Festival 2017’, held at the Frere Hall, was an extension of the idea of the same market.

Kicking off on Saturday, the event organised by the Bohra community saw over a 100 stalls of various kinds, with most set up by Bohri women to promote their small businesses. “We have taken this step to promote small-scale entrepreneurs and help boost their businesses. We have had such fairs in the past but they were limited to our community only. This time round, however, we have opened up to people from across the city,” said the event’s organiser Shabbir Najmi.


“We want to let the city dwellers get acquainted with our culture which is known for its rich traditions including crafts and variety of food items. This is our first such attempt, but considering the response, we hope to continue it in future as well,” he added.

The ticket, priced at Rs100, was available at the entrance and young men belonging to the community were busy looking after the security arrangements.

Once inside the venue, it was easy to demarcate the stalls selling specialised items alongside an area dedicated to food items.

 

Explaining about Khaman Dhokla, a savoury item, a visitor said that it was a light sponge which is made is their houses only.

“There are many fried items which ranged from chicken with egg, mince samosas and the ever famous Khaosuey,” said Zainab, who was attending with her family.

Selling Bohra Kachori, Sakina Nasir explained that the Papar (Papadum) was fried while the bhajee (vegetable mix) was placed on top of it to give it flavour.

At the centre point, band members in blue and white, of different age groups played various tunes which drowned the contemporary songs played by a radio station.

Razia Zakir, who had a jewellery stall, sold charm bracelets with precious stones which came all the way from Egypt.

 

Experimenting with the idea of exchange, Alifyah Talib’s stall pulled many parents and children who seemed interested in buying educational toys for their children.

“We are selling imported puzzles and other such toys at a cheaper rate but most importantly we are up for trading toys too. If people have old toys they can give them to us and buy new ones too,” she said. However, one visitor felt that the place was quite pricey for the items sold.

“I think it’s because they have limited supply and the buyers are of different backgrounds too. We have similar fairs all the time, rather they are bigger. The one we have at Nadil Burhani ground near Pak Colony can host more people but then it’s reserved for community only,” said Zainab Murtaza.

Written by: karachiwala on November 7, 2017

The Institute of Business Administration will set up an independent centre for entrepreneurship for the training and guidance of young men and women who plan to set up their own businesses.

The IBA board of governors has already accorded approval to the project, which would get some financial and technical support from the US government as well.

The Director IBA, Danishmand, told Dawn that the centre, which will be set up within the IBA on the KU Campus, would be governed by a separate body. “We hope to offer courses at the ‘Centre for Entrepreneurship in Pakistan’ in the second half of next year,” he added.

He said that the US had chosen the IBA for establishment of the centre and had agreed to support it under its Broader Middle East and North Africa Initiatives (BMENA).

Written by: karachiwala on November 6, 2017

Mithadar is believed to be one of the neighbourhoods of Saddar Town in Karachi city, Sindh province, Pakistan, and comprises the oldest part of Karachi that was once encircled by a wall. Mithadar and the adjacent community of Kharadar together form what is regarded as the original hub of Karachi.

Etymology of Mithadar

‘Mithadar’ generally means Sweet Gate in both Sindhi and Urdu (in reference to the potable, non-saline waters of the Lyari River).

Location

The neighborhood is encircled by Kharadar, Jodia Bazar and Lyari Town across Embankment Road. The place also at one time was on the banks of Lyari River, until it moved course in the nineteenth century. The combined area of Mithadar and Kharadar is almost 35 square kilometers.

History

‘Mithadar’ literally means Sweet Gate in both Sindhi and Urdu, and was the name of one of two gates in historical Karachi – the other being “Khara Darwaza” (Brackish Gate) to the west – now known as Kharadar. Both gates were constructed in the year of 1729, and were torn down in the year of 1860 after the British conquered Sindh thirteen years earlier. Together with the adjoining community of Kharadar, it forms what is regarded as the original core of Karachi, when the city was termed as “Kalachi Jo Goath.”

Economy

The place was once the epicenter of business community of Karachi before the arrival of the British prompted businessmen to migrate straightly east and south to the areas of Saddar, Cantonment, and Bolton Markets. The area is known for its several textile markets that are located in Mithader and the adjoining communities of Kharadar and Bolton Markets.

The place was once home to a thriving Hindu business community prior to the independence of Pakistan. Up until independence, the area was a Hindu majority area – a legacy which is still depicted in major street names like Chandan Mukhi Lane, and Vishramdas Sukhramdas Street. At the eastern end of the neighborhood starts Rampart Row, where elaborate instances of 20th century Sikh and Hindu architecture can still be discovered.

By Sindhi Dunya

Written by: karachiwala on November 6, 2017

Saddar (Urdu: صدر ‎) is believed to be one of the neighborhoods of Saddar Town in the city of Karachi, Sindh, Pakistan. Saddar believed to be the central business district of the city Karachi. ‘Saddar’ simply means ‘centre’ (of the town) and also ‘head’ (of State or agency). The Empress Market in Saddar is the central shopping place of the city Karachi. Karachi’s central bus station is also situated in Sadar, thus linking it with other places of city Karachi. A huge street in Saddar is termed as Zaibunnisa Street, after the impressive author and journalist, Zaib-un-Nissa Hamidullah. This street is believed to be one of the most contemporary and bustling in the city of Karachi. Sadar is the centre of business activities in the city of Karachi and is one of the ancient parts of the city. Several beautiful instances of British Colonial architecture can be discovered here; such as the main building of Karachi Grammar School, Frere Hall and the Sindh Club. This was the centre of the city Karachi in the colonial period, and still is today.

Sadar also has the popular Karachi building known as Rainbow Centre.

There are various ethnic groups in the area of Sadar Town involving the Muhajirs, Punjabis, Sindhis, Kashmiris, Pakhtuns, Memons, Seraikis, Brahuis, Balochis, Bohras, Ismailis, etc. Over 85 percent of the population is predominantly Muslim. There are also other minorities like Christian, Parsis, Hindu, Ahmadis, and other religious sections in the place of Sadar. The population of Sadar Town is assumed to be approximately 1 million.

Primary Areas
•Preedy Quarters
•Rao Sheraz Khan
•Urdu Bazaar Area
•Ratan Talao (Partial)(Muslim Public School saddar Branch )
•Gari Khata
•Rainbow Centre
•Bohri Bazaar
•Burns Road (Partial)
•Sindh High Court Building
•Lucky Star
•Passport Office
•Aram Bagh (Partial)
•National Accountability Bureau (Investigation Wing)

By Sajid Ali

Written by: karachiwala on November 4, 2017

US and Canadian Entrepreneurs Keen to Invest in Karachi: Governor Sindh Muhammad Zubair on Thursday said that a large number of US entrepreneurs want to invest in Pakistan and they are optimistic about long-term economic and operating environment in the country.A Pakistani delegation led by Governor Sindh Muhammad Zubair visited Pakistani General Counsel in Washington. He said that foreign investors have exhibited keen interest for investments in Pakistan. The American investors are also aware that after completion of China-Pakistan Economic Corridor (CPEC) Pakistan would emerge as an ideal place in terms of investment, trade and economy.Yesterday, they visited the New York Stock Exchange and met with its office bearers. They discussed in detail matters pertaining to investment in Pakistan Stock Exchange.It is pertinent to mention here that the delegation is on a six-day visit to the United States. The visit is part of road shows in various countries to foster positive image of Pakistan.Besides New York, the delegation will also visit Boston and Washington DC.