Again you are doing the same mistake .. you are going towards Accumulated numbers .. you are not taking in the fact that that 65% includes cost/Revenue from others parts of Pakistan .. something Manufactured in Sialkot and sold in Karachi does not mean that 100% revenue has been generated in Karachi .. of that 100% only the profit portion belongs to Karachi .. as i said before Karachi houses the Service Ends of most of the Business , that do not require electricity as much as manufacturing units ... a Hub is useless if it does not have anything to trade .
You and me are not finance experts ... So we should rely on KCCI's statement ...........
Karachi is the financial capital of Pakistan; it accounts for the lion's share of GDP and revenue. It generates approximately 65% of the total national revenue (federal and provincial taxes, customs and surcharges). On the Gross regional product (GRP) front, Sindh's share almost comprising 28% of the total GDP. Karachi produces about 42 percent of value added in large scale manufacturing. Recently in February 2007, World Bank has termed Karachi the most business-friendly city in Pakistan.
The city’s economy is large and diverse, and, with largest and most dynamic Industrial complex in the country viz Sindh Industrial & Trading Estate ( SITE ), Korangi Industrial & Trade Estate, North Karachi Industrial & Trade Estate etc. Most of Pakistan's public and private banks have their head offices in Karachi. Nearly all of them are located at I.I Chundrigar Road (Pakistan's Wall Street). During the 1960s, Karachi was seen as an economic role model around the developing world, and there was much praise for the way its economy was progressing. Many countries sought to emulate Pakistan's economic planning strategy and one of them, South Korea, copied the city's second "Five-Year Plan,".
Karachi possesses a versatile industry. The economy of the city concentrates on Cement plants, corn mills and shipbuilding, in addition, steel, textiles, chemicals, refined oil, shoes, machines and food are produced in the city. The city gains 60 per cent of the tax receipts of the country and 70 per cent of the taxes of the province Sindh. The Per-head income of the city is about four to five times more highly than in the state average. Karachi is also a location of a nuclear power station & many large banks.
Besides being the banking and finance capital of the country, Karachi also hosts the offices of almost every major foreign multinational corporation as well as corporations based in Pakistan. It is home to the largest stock exchange in Pakistan: the Karachi Stock Exchange, which was considered by many economists to be one of the prime reasons for Pakistan's 8% GDP growth across 2005. The Port of Karachi and nearby Port Qasim are the two main seaports of Pakistan, and Jinnah International Airport is the largest & the busiest airport in Pakistan.
The recent trends involving ICTs (Information & Communications Technology), electronic media and call centres have become a significant part of Karachi's business hierarchy. Call centers for foreign companies have been targeted as a significant area of growth, with the government making efforts to reduce taxes by as much as 80% in order to gain foreign investments in the IT sector.
Karachi is also the software outsourcing hub of Pakistan. Many of Pakistan’s independent television and radio channels are headquartered in Karachi. Geo, ARY, Hum and AAJ TV are the most popular ones; some of the local stations include KTN, Sindh TV, and Kashish TV .
Karachi has a huge industrial base, with several large industrial zones located on the fringes of the main city.[citation needed] The primary areas are textiles, pharmaceuticals, steel, and automobiles. In addition, Karachi has a vibrant cottage industry and there is a rapidly flourishing Free Zone with an annual growth rate of nearly 6.5%. Karachi has an Expo centre which hosts many regional and international exhibitions.
Toyota and Suzuki Motor Company are located in Karachi. Among others, Millat Tractors, Adam Motor Company, HinoPak Buses and Trucks manufacturing plants are also located in Karachi. The automobile manufacturing sector is one of the fastest growing industries in Pakistan, and a large vendor industry associated with it is also located principally in Karachi.
About Karachi