K-IV project: Murad directs accelerated work on all lots
The meeting was attended by Minister Local Govt Saeed Ghani (on video link), Mayor Karachi Murtaza Wahab, PSCM Agha Wasif, Chairman P&D Najam Shah, Secretary Local Govt Waseem Shamshad, PD K-IV Usman Moazzam and others.
The K-IV project has been started with the support of the World Bank.
During the briefing, the CM was told Key highlights from the meeting include the transmission of water from Reservoir One to the Y junction as part of Lot One. Lot Two will establish a water line from Reservoir Two to Sir Syed University, while Lot Three will lay a water line from Sir Syed University to Gul Bai.
Additionally, Lot Four will create a water transmission system from Reservoir Three to Banaras. The K-IV and BRT projects will share a 2.7-kilometre common corridor, featuring water pipelines that measure 96 and 72 inches in diameter.
The 96-inch water line will be located near Aziz Bhatti Park and Urdu College, and the 72-inch line will also be established in the area. Notably, the work on the common corridor for K-IV and BRT has already been awarded, with plans to commence in September.
The Chief Minister instructed the acceleration of work on the K-IV Augmentation and directed the Chairman of Planning and Development to ensure progress.
Furthermore, Murad Ali Shah emphasised the importance of the K-IV Augmentation project. He insisted that the work on all lots must be of high quality, urging Mayor Karachi to pay close attention to the project's standards.
Copyright Business Recorder, 2025
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Initially, these may be Pakistani investors. However, subject to regulatory approval, foreign investors may also be included. This will help raise money for funding development projects at very low rates, thereby ensuring financial viability and independence for the city of Karachi. Municipal bonds are utilized across the world in cities like New York, London, Ahmedabad and Pune, among others, to borrow money and fund development projects. India's municipal bond market, although nascent, has raised INR 5000 Crores which have directly translated into development works. Likewise, New York City has for decades funded subway expansions, schools and bridges through muni bonds. Municipal bonds have achieved the same feat for all such cities which have issued them. The precedent is clear. On state level, in Pakistan, the Government of Pakistan regularly issues bonds to local and foreign investors for the purpose of funding its development and day-to-day needs. 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