Karachi City District government (CDGK) has chalked out a comprehensive plan to run monorail from New Sabzi Mandi to Tower via Super Highway.
Under the Karachi Mass Transit Programme, many foreign companies, including Chinese and American, have already shown interest to invest in the initial phase of the scheme, comprising 17 km long corridor-I.
City Nazim Naimatullah Khan stated this while briefing a 23-member delegation of NWFP Naib Nazims on the development projects of Karachi.
The delegation is currently on a study tour of newly established civic system of Karachi.
Naimat informed the delegation that there was vast scope for foreign investment in the mass transit and transport sectors where substantial foreign investment was being attracted.
He criticised the undue propaganda of Western media about the law and order situation in Karachi and observed that these negative tactics were basically aimed at driving out foreign investment from the city.
He said that as the city contributed 70 percent of total revenue of federal budget the country's progress was heavily dependent on its own development.
It was for this reason that the federal government had initiated a number of development projects in Karachi including Lyari Expressway, Northern Bypass, K-III etc, he added.
Highlighting the paucity of available funds for development projects, he said that having limited resources Karachi is a sprawling city of teeming millions where no mega-project can be completed without financial assistance of federal government.
He also discussed tree-plantation, water recycling, replacement of old vehicles under the Urban Transport Scheme as the major ongoing development projects of the city.
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