Karachi Bonds: Mayor Launches Pakistan’s First Municipal Bonds
- Karachi is set to finance its future through municipal bonds.
- Wahab, the first Karachi mayor to ring the PSX bell, outlined plans for the Karachi Metropolitan Corporation (KMC) to collaborate with the PSX.
- Among the first projects is a multi-story parking plaza near the PSX on I.I.
Karachi takes a bold step into the future: Mayor Murtaza wahab launches the city’s first municipal bonds, a strategic move to finance critical infrastructure projects.The initiative,announced at the Pakistan Stock Exchange,aims to secure funding for long-term growth,including parking plazas and vital water infrastructure.This innovative approach seeks to unlock capital independently, reducing reliance on traditional funding streams. The Karachi Metropolitan Corporation (KMC) is collaborating with PSX, with plans for sustainable projects for the KMC, the Karachi Water and Sewerage Corporation (KWSC), and the Sindh Solid Waste Management Board (SSWMB). As News Directory 3 reports,this pioneering strategy could reshape urban financing. What’s the next step for this groundbreaking venture? Discover what’s next as Karachi builds its future.
Karachi Mayor Launches Municipal Bonds for City Development
Updated June 17, 2025
Karachi is set to finance its future through municipal bonds. Mayor Murtaza Wahab announced the initiative Monday at the Pakistan Stock Exchange (PSX),signaling a new approach to urban development financing.
Wahab, the first Karachi mayor to ring the PSX bell, outlined plans for the Karachi Metropolitan Corporation (KMC) to collaborate with the PSX. The goal: fund long-term, sustainable projects for the KMC, the Karachi Water and Sewerage Corporation (KWSC), and the Sindh Solid Waste Management Board (SSWMB).
Among the first projects is a multi-story parking plaza near the PSX on I.I. Chundrigar Road, intended to create a pedestrian-amiable zone. A similar parking structure is planned for Railway Ground, with funding already secured but final approvals pending. This innovative approach to urban financing aims to improve Karachi’s infrastructure.
The city aims to unlock capital without relying solely on federal or provincial funds, Wahab said. He highlighted a proposed water project from Haleji, capable of supplying 65 million gallons, as a model for asset-backed financing.
“Our city holds valuable assets,” Wahab said. “And through municipal bonds, initial public offerings, and special purpose vehicles, we can unlock capital without relying on federal or provincial funding.”
What’s next
Karachi officials will now focus on securing final approvals for the Railway Ground parking plaza and advancing the Haleji water project. The success of these initial projects will likely determine the future of municipal bonds as a financing tool for the city.