Developing Karachi on Hong Kong model for fast track economic revival of Pakistan.

Byline: Syed Nayyar Uddin

DEVELOPING Karachi city on the Hong Kong model would require a comprehensive and coordinated effort involving various stakeholders such as the government, private sector and citizens. Here are some steps that could be taken:

This mother of all projects should be made a part of greater CPEC as China already possesses the required experience.

Establish a Special Administrative Region (SAR): Karachi can be transformed into an SAR, similar to Hong Kong, which would give it a high degree of autonomy in its governance and economic policies. This would require constitutional amendments and negotiations with the federal government.

Implement a Free Market Economy: Hong Kong has a free-market economy that is highly conducive to business and entrepreneurship. To emulate this model, Karachi would need to create a business-friendly environment with extremely low taxes, minimal government regulation and incentives for investors.

Build Infrastructure: Hong Kong's world-class infrastructure plays a critical role in its economic success. Karachi needs to improve its infrastructure, including transportation, communication, water and energy networks, to create a conducive environment for businesses to thrive.

Improve Education and Skill Development: Hong Kong has a highly educated workforce that is essential to its success. Karachi must prioritize education...