The business community of Karachi has announced the launch of a new airline, Air Karachi, with an initial investment of Rs. 5 billion. The announcement was made by prominent businessman Hanif Gohar during a visit to the Karachi Press Club, alongside S M Tanveer, Chairman of the United Business Group.
Air Karachi, registered with the Securities and Exchange Commission of Pakistan (SECP), is currently awaiting licensing from the federal government. Gohar revealed that the airline will begin operations with a fleet of three leased aircraft, with plans for future expansion.
“Following the precedent set by Air Sial, Karachi’s business community has decided to launch its own airline under the brand name of Air Karachi,” Gohar stated. He emphasized that Karachi, as the largest contributor to Pakistan’s economy, deserves its own airline to meet the city’s growing business and travel needs.
The shareholders of Air Karachi include notable business figures such as Aqeel Karim Dhedhi, Arif Habib, S M Tanveer, Shehryar Tahir, Bashir Jan Muhammad, Khalid Tawab, Zubair Tufail, and Hamza Tabani. Air Vice Marshal Imran Majid Ali has been appointed as the airline’s Chief Executive Officer (CEO).
Gohar expressed optimism that the airline’s license would be issued soon, enabling operations to commence. He highlighted that the initiative aims to enhance connectivity, provide employment opportunities, and boost the country’s aviation sector.
During the discussion, S M Tanveer addressed the challenges faced by Karachi’s business community due to government policies. He announced the Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) new Charter of Economy project, aimed at revitalizing the economy at the district level.
Tanveer disclosed that the FPCCI has formed a team of 20 experts to design a strategy to improve exports, create jobs, and enhance revenue generation. He also discussed broader economic issues, including the high cost of electricity, declining industrial growth, and an overvalued rupee. He called for policy reforms, such as a single-digit interest rate and the revival of SRO 1125 to support exports.
Tanveer criticized the government’s flawed policies, citing the closure of 5,000 printing presses and job losses for 2.5 million people. He also revealed that Rs 2.1 trillion had been paid to independent power producers (IPPs) as capacity charges, contributing to the rising cost of electricity. However, he predicted that electricity rates would stabilize in the coming months. President KPC Saeed Sarbazi and Secretary KPC Shoaib Ahmed were also present at the event.
