CDGK to rise KMC shops rent every year by five percent

The judicious decision was taken by City Nazim Syed Mustafa Kamal with the support and encouragement of Governor of Sindh Dr Ishratul Ibad Khan helped to resolve the contentious issue of increase in rent for the tenants of the 91 KMC markets.
This decision brought a big relief to the 13,000 tenants who were facing acute hardship and difficulty since this matter was pending for many months. On behalf of the tenants, the small traders, and KCCI, I thank the Governor and the Nazim for this historic decision, "Majyd Aziz, President, Karachi Chamber of Commerce and Industry stated this while announcing the agreement reached in the Nazim's office on late Thursday.
The KCCI chief appreciated the announcement of the Nazim that the City District Government Karachi (CDGK) is determined to improve the infrastructure and to maintain harmony between the business community and the administration. He said that the Nazim had desired that the president KCCI make the right decision and that both CDGK and the KMC markets' tenants would honour the decision.
Majyd Aziz announced the following decisions: The rent of the KMC markets would be increased by 50 percent over the present rate. Transfer fees on shops would be increased to Rs 25,000 per transfer and the usual practice of increasing the rent up to 50 percent on each transfer would be done away with.
CDGK would increase the rent every year by 5 percent. The challans would be issued in time. The tenants would co-operate fully with the CDGK officials and would take personal interest in maintaining their shops and keeping the markets free from encroachments, garbage, and debris. CDGK would also improve the external facilities as part of its Karachi development programme.
Majyd Aziz hoped that the leadership of the market tenants would ensure that the markets are well maintained, the customers are facilitated, and all dues are regularly paid. He also appreciated the efforts of Siraj Kassam Teli, Majeed Memon, Talat Mahmood, and the EDO Revenue Matanat Khan in the resolution of this issue.-PR