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Mayor Karachi inaugurates pedestrian bridge in F.B Area

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KARACHI: Mayor Karachi Wasim Akhtar pointed out the pedestrian bridge has been constructed at the Shafiq Morr only in 20 days to save the people from difficulty in crossing the road.

He expressed these views while talking to media representatives after inaugurating the newly built pedestrian bridge at Shafiq Morr, near Masjid-e-Aqsa today.

He was accompanied by Vice Chairman DMC Central Shakir Ali, Chairman Land Committee Syed Arshad Hassan, Chairman Works CommitteeHassan Naqvi, Chairman Finance Committee Nadeem Hidayat Hashmi, other elected representatives and KMC officers.

RELEVANT PIECE PUBLISHED EARLIER: Mayor Karachi Waseem Akhtar has called for carrying out city’s development on an immediate basis and said that there was an extreme need to re-build the city.

Speaking to media outside Sindh Assembly Akhtar underlined that the masses were ‘in difficulties’ owing to persisting civic issues. He said actions had already been planned, now it’s time for targeted development.

The mayor also appealed Prime Minister Nawaz Sharif to provide sufficient budget for Karachi’s development.

Earlier, Akhtar said that peace of the city was disturbed many times in past as there was nobody to direct authorities to maintain peace in the Metropolis.

Speaking to media outside an Anti-Terrorism Court (ATC), the mayor complained and alleged he did not get adequate security which he deserved on his position.

“I am Mayor of the city and a free person now, I should be provided with security,” Akhtar said while talking to the media outside Karachi Metropolitan Corporation (KMC) building.

“This was my first day at the office, I was in the court before coming here. I always follow the law and obey the court orders,” the mayor added.

Akhtar further said that he would take into confidence all parties on the issue of Karachi’s peace as it was his top priority after taking charge of his office.

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Business

PSX: Bears seen growling in the bourse!

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KARACHI: Benchmark KSE-100 Index closed in the red (42,074) shedding 462 points. Rs. 3.7b worth of 109.7m shares changed hands today. Value of the shares of 202 companies plummeted, 81 augmented while 20 remained stagnant.

Investment Banks, Technology Electronic Goods Sectors led the trade today with 13m and 12.2m shares respectively.

Today’s top five traders of shares were: Pakistan Elektron Ltd., 11.5m shares (-4.69pc); First Dawood Investment Bank Ltd.,  10.6m shares (+6.30pc); TRG Pakistan Ltd., 7.7m shares (-4.77pc); Bank Of Punjab: 6.9m shares (-0.42pc); K-Electric Ltd., 6.6m shares (-2.64pc).

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Business

PSX: Political noise lets bear attack the bourse!

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second trading day, PSX, Pakistan Stock Exchange

KARACHI: Benchmark KSE-100 Index closed in the red (42,536) losing 236 points due to political noise in the country.

Rs. 4.7b worth of 127m shares changed hands on the week’s 4th trading day. Value of the shares of 184 companies plummeted, 112 augmented while 29 remained stagnant.

With 29.83m shares changing hands Commercial Banking Sector led the trade today. Top five traders of shares were: Faysal Bank Ltd., 11.9m shares (+2.96pc); First Dawood Investment Bank Ltd., 10.98m shares (+14.42pc);

Bank Of Punjab, 10.86m shares (+0.25pc); Unity Foods Ltd.,  7.84m shares (+4.94pc); Pakistan Elektron Ltd., 6.47m shares (-3.07pc).

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Karachi

No compromise on Karachi’s Rs.75bn projects: Zubair

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KARACHI: A series of federal government funded development projects worth Rs. 75 billion is being completed in the Metropolis without any compromise, said Governor of Sindh, Muhammad Zubair, here today.

Talking to Mayor of Karachi, Waseem Akhter, who called on him to share series of steps taken by the Karachi Metropolitan Corporation to facilitate the citizens, the governor said these efforts will help streamline civic facilities across the metropolis.

Completion of Expressway is being fast followed by the realization of Green Line as well as the first phase of K-4 (water supply) projects meant to largely benefit the Karachiites.

“KMC is and can definitely play a crucial role in the efficient execution of the schemes,” said the Governor. The Karachi Mayor apprised him of measures adopted to streamline traffic flow around the under-construction fly-overs and underpass across the metropolis.

The Mayor was of the opinion that the completion of these development projects before the forthcoming general election could largely help people in acquiring the much-needed respite.

Relevant piece published earlier: 

i) SC registry here has ordered today to demolish all illegal structures built illegally on lands meant for public parks. According to details a two-member bench hearing a petition filed by former mayor Naimatullah Khan, has ordered the authorities concerned to reclaim the playgrounds demolishing all illegal structures (including wedding halls, political parties’ offices etc) in different parts of the Metropolis.

Reprimanding Sindh Attorney General, present in the court, for not taking action against officials involved in the encroachment of welfare plots, the bench held: “What is the Sindh government going? What does it want us to do?… We don’t want to assume the government’s job!”bCourt made it clear that illegal buildings will not be tolerated on land allocated for the benefit of masses.

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