Senator Faisal Vawda has criticized the alleged undervaluation of Karachi Port land, calling it a “mega scandal.” The keyword “land undervaluation” dominated discussions as Vawda and a Senate committee demanded an urgent investigation into the sale of 500 acres of prime property worth Rs40 billion for just Rs5 billion.
Senate Committee Demands Accountability
The revelation emerged during a Senate Standing Committee on Maritime Affairs meeting chaired by Vawda. He expressed outrage over the deal, insisting the land’s market value exceeded Rs60 billion. Vawda questioned how the transaction was approved without formal clearance from the necessary authorities.
“This blatant misuse of public assets must stop,” Vawda declared. He vowed to review the issue with the Special Investment Facilitation Council (SIFC) and ensure transparency in future Karachi Port land deals.
Federal Officials Deny Knowledge
Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh and Maritime Secretary Zafar Ali Shah, both present at the meeting, denied prior knowledge of the deal. Their responses intensified scrutiny from committee members, who demanded a detailed report on the transaction.
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Broader Karachi Port Concerns
The committee also addressed inefficiencies within Karachi Port Trust (KPT) operations. Senator Dinesh Kumar highlighted outdated regulations as a barrier to port development. Karachi Port’s governing laws date back over a century, while Port Qasim operates under a framework more than 50 years old.
In response, officials acknowledged the need for policy updates and announced plans to introduce the first new maritime policy in 25 years.
Financial Mismanagement at KPT
Financial mismanagement at KPT also drew criticism. Kumar cited reports of drivers earning up to Rs350,000 per month and noted an annual medical benefits allocation of Rs800 million. He criticized labour unions for exerting excessive pressure on KPT management, making reforms difficult.
“The port sector operates like a white elephant,” Kumar said. “Every time a new government takes charge, we hear minor updates but see no real reforms. Serious action is long overdue.”
Urgent Reforms and Oversight Needed
The committee warned that unregulated land allotments and poor management could lead to significant economic losses. Members called on the government to tighten oversight, modernize maritime laws, and audit all Karachi Port land transactions.
Vawda emphasized that no future land deals should proceed without complete transparency. “The board’s approval was bypassed, and federal officials claim ignorance. This can’t continue,” he said.
Immediate Action Ordered
The Senate committee has ordered a halt to the controversial Karachi Port land deal. Officials have been directed to submit a comprehensive report on the transaction in the coming weeks. As scrutiny intensifies, lawmakers are demanding accountability and swift reforms to protect public assets.
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