Even throwing more money at a city with so many entrenched interest groups, who benefit from the fact that system is broken will be suboptimal. Those groups will never let Karachi develop to it's full potential. India has same problem in Bombay.the issue is simple financing..
the city is not being financed by the provincial govt because it doesn't need the city to get into power
te only solution is splitting Sindh province into two..there is no other solution
That money will better utilized in building a New-Karachi some 50 kms away.. with new infrastructure and robust policing..