Faisal Vawda slams sale of Karachi Port land worth Rs40bn for just Rs5bn

Senator Faisal Vawda expressed outrage over the alleged undervaluation of 500 acres of prime Karachi Port land.

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A Senate committee has raised alarms over the allotment of Karachi Port land worth Rs40 billion for just Rs5 billion, calling it a "mega scandal" and demanding an urgent investigation.

The revelation was made during a meeting of the Senate Standing Committee on Maritime Affairs, chaired by Senator Faisal Vawda.

During the session, Vawda expressed outrage over the alleged undervaluation of 500 acres of prime Karachi Port land, arguing that the market value of the property was well over Rs60 billion.

He questioned how such a deal was approved without formal clearance from the relevant authorities.

“This is a blatant misuse of public assets. We will ensure transparency in Karachi Port’s land allotments,” he said, adding that the matter would be reviewed with the Special Investment Facilitation Council (SIFC).

Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh and Maritime Secretary Zafar Ali Shah were present at the meeting but claimed no prior knowledge of the deal.

Their response led to further scrutiny from committee members, who demanded a full report on the transaction.

Beyond the controversial land allotment, the Senate committee highlighted broader inefficiencies in Karachi Port Trust (KPT) operations.

Senator Dinesh Kumar noted that outdated regulations were hampering the port’s development, with laws governing Karachi Port dating back over a century, and Port Qasim operating under a legal framework more than 50 years old.

Officials acknowledged the need for urgent policy reforms and announced that a new maritime policy would be introduced soon—the first in 25 years.

Senators also pointed to financial mismanagement at KPT, citing reports that some drivers at the organisation were earning as much as Rs350,000 per month, with an additional Rs800 million allocated annually for medical benefits.

Kumar criticised the strong influence of labour unions, claiming that KPT management often yielded to union pressure, making reforms difficult.

“The port sector is operating like a white elephant. Every time a new government takes charge, we get briefings full of minor differences, but no real reforms. It is time for serious action,” Kumar added.

Committee members warned that unregulated land allotments and mismanagement at Karachi Port could lead to significant economic losses. They urged the government to strengthen oversight, update maritime laws, and conduct a thorough audit of Karachi Port’s land allocations.

Vawda emphasised that no further land deals at Karachi Port should proceed without full transparency.

“The board’s approval was bypassed, and federal officials claim ignorance—this cannot be allowed to continue,” he said.

With growing pressure from lawmakers, the committee has called for an immediate halt to the Karachi Port land transaction, while officials have been directed to submit a detailed report on the matter in the coming weeks.