KARACHI: The Karachi Development Authority (KDA) has sought approval from the Sindh Local Government Department to develop land worth an estimated Rs90 billion under a Public-Private Partnership (PPP) framework, according to official sources.
Sources said KDA Director General has formally submitted a proposal to the Local Government Department seeking permission to transfer several high-value land parcels to the private sector for development under the PPP model.
A summary requesting formal approval has also been forwarded to the department.
The proposed portfolio includes 28 acres of land near the KDA Officers Housing Society on Stadium Road, 15 acres in the KDA Staff Colony in North Karachi, and approximately four acres occupied by a KDA field office in the Federal Area.
In addition, several other Karachi Development Authority-owned plots and land parcels across Karachi have been identified for inclusion in the PPP initiative. If approved, these properties will be developed and managed in partnership with the private sector.
Officials estimate the combined open market value of the proposed land assets at around Rs90 billion.
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According to the summary, the initiative is aimed at addressing KDA’s mounting financial challenges. The authority expects revenue generated through the projects to help settle outstanding dues of retired employees, including pension liabilities, while ensuring the timely payment of salaries to serving staff.
However, the proposal has sparked concern among KDA employees, who fear that valuable public assets are being transferred to the private sector under the guise of resolving the authority’s financial crisis.
The Karachi Development Authority has urged the Local Government Department to approve the proposal, enabling the identified properties to be developed under the Public-Private Partnership framework.