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Karachi is one of the world's fastest-growing cities, [33] and has significant communities representing almost every ethnic group in Pakistan. Karachi holds more than two million Bengali immigrants, a million Afghan refugees, and up to 400,000 Rohingyas from Myanmar. [34] [35] [36] Karachi is now Pakistan's premier industrial and financial centre.
In line with its status as a major port and the country's largest metropolis, it accounts for most of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year-book, tax and customs units in Karachi were responsible for 70.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. [3]
Karachi was known as Khurachee Scinde (i.e. Karachi, Sindh) during the early British colonial rule. An old image of Karachi from 1889 Karachi map, 1911 St Joseph's Convent School, Karachi An image from 1930 of Elphinstone Street, Karachi Karachi Municipal Corporation Building, inaugurated in 1932
The demographics of Karachi are important as most politics in Karachi is driven and influenced by ethnic affiliation. The success of the MQM has always been patronized by the fact that city's population is dominated by the Muhajir people who remain loyal to the party, which was originally created and led by Altaf Hussain as a means to fight for the community's rights.
To ensure the federal government's autonomy, the Federal Capital Territory (FCT) was carved out of Karachi District in 1948. [6] The FCT remained the capital of Pakistan until 1960 when the capital was shifted to Rawalpindi. While Karachi's status as the federal capital ended, it continued to be a major economic and financial hub of Pakistan. [7]
Karachi is home to some of Pakistan's important cultural institutions. The National Academy of Performing Arts [27] is located in the newly renovated Hindu Gymkhana. The All Pakistan Music Conference, linked to the 45-year-old similar institution in Lahore, has been holding its Annual Music Festival since its inception in 2004. The festival is ...
The most important crops are wheat, sugarcane, cotton, and rice, accounting for more than 75% of the value of total crop output. Pakistan's largest food crop is wheat ...
Karachi is ranked as a Beta world city in the GaWC index, [1] and is widely recognized as the prime financial and transport hub of Pakistan. The city is home to range of developments from foreign investors and local investors such as Malik Riaz , [ 2 ] however due to high corruption in the country, many projects have been delayed or completed ...