KDA moves to monetise land amid cash crunch

KARACHI:

The Karachi Development Authority's (KDA) proposal to develop prime land under a public-private partnership (PPP) model has triggered alarm within the department, with officials and employees warning of a potential sell-off of key public assets under the guise of a financial crisis.

According to an official summary sent to the Sindh government, the KDA has declared itself to be in severe financial distress and sought in-principle approval to develop valuable land through private sector partnerships.

The move, however, has drawn sharp criticism from within the organisation. Employees fear that, beyond vacant plots, government residences, field offices, and other core institutional assets could also be handed over to private entities if the proposal is approved in its current form.

Documents state that the authority has been unable to launch new housing schemes since its revival in 2016 and is facing mounting financial liabilities, including dues payable to retired employees.

The summary identifies several high-value sites for potential development, including around 28 acres near the KDA Officers Housing Society on Stadium Road, around 15 acres in the KDA Staff Colony in North Nazimabad Block U, nearly 4 acres housing a KDA field office in Federal B Area Block 1, and about 1,900 square yards in KDA Scheme No 1, among other plots.