KARACHI, Dec 4: City Nazim Syed Mustafa Kamal has said that Karachi offers great investment opportunities with the city government assuring all required facilities to investors.

“Unprecedented development and revamping is in full swing across the city and work on various projects,” he told the member of the Houston City Council, M. J. Khan, of Pakistan origin who called on him recently.

Mr Kamal said the city government had made tremendous efforts in availing a huge sum of $900 million which would soon be invested in the city.

He pointed out that in a record one-year period, the city government launched too many development projects to modernise the city. In this context, he made mention of the projects for revamping water and sewerage network, construction of flyovers and underpasses and a large number of roads. The uplift process will continue and more projects will be undertaken by the city government, he added.

He also stated that the city’s first ever master plan had been prepared and would formally be adopted as legal document this month.

“We have launched these development projects with a clear vision as all these are part of the master plan,” he said, adding that after approval of the master plan from the City Council, all matters would be taken up in an organised way and this would help give the city a modern look.

“Agreements have been inked with various multinational companies for a total investment of $900 million and the city government intends to utilise the funds in collaboration with private sector to construct an elevated expressway, a 47-storey IT Tower and other such projects in the city.” He noted that FPCCI and other associations were also participating in uplift work.

Mr Kamal informed the guest that the groundbreaking ceremony for the IT Tower, besides several other projects, would be held next month. He also expressed his desire to make Karachi a sister city of Houston, and said that the Houston City Council would be invited to the Platinum Jubilee of Karachi’s City Council to promote trade and cultural links. The city government would also welcome Pakistani business community abroad to make investments in Karachi, he added.

Mr M. J. Khan told Mr Kamal that Houston had many Karachi-based businessmen, willing to see the two cities become sister cities. He said an agreement to this effect would be signed very soon after finalising arrangements. He believed that Pakistani community would invest in various sectors in Karachi, especially medical sector. Mr Khan also invited Mr Kamal to visit Houston.—PPI