Karachi is the most populated city and financial center of Pakistan due to its strategic importance. Economy of Karachi is based on Port Qasim and Karachi Port. Import/Export of Pakistan passes through these ports. Due to these important trading ports, Karachi is the backbone of Pakistani economy and major financial center. This has also helped Karachi to create millions of jobs. People flocked from different parts of Pakistan in search of better employment opportunities. Which ultimately resulted in the fast population growth and Karachi became the most populated city of Pakistan. But recent national and international changes have decided the fate of Karachi. Karachi is soon to lose its titles as Pakistan’s most populated city and financial center of Pakistan as Karachi is set to lose its strategic importance.
Why Karachi will lose its strategic importance?
Gwadar is the game changer. China has recently signed a deal with Pakistan, of worth $46 billion, to develop Gwadar Port and Gwadar-Kashgar Trade Route. Gwadar Port and Gwadar-Kashgar Trade Route will be fully functional by 2017. Fully functional Gwadar Port will replace Port Qasim and Karachi Port for import and export of goods. People related to port industry will leave Karachi for Gwadar in search of much better employment opportunities and Karachi will lose large revenue. This will also result in declining the population of Karachi.
Gwadar is set of replace Karachi as the financial center of Pakistan
China got the 40 years management rights of Gwadar port. China will develop and operate the Gwadar Port. Gwadar would be a free trade port and one of the major trading hubs of the world. China and Pakistan will use Gwadar Port for the import and export of oil, gas, food and many other goods. This will greatly increase the importance of Gwadar. By end of 2017, we will see huge business activities in Gwadar. Many international companies will have their offices in Gwadar. Due to all these changes, Gwadar will replace Karachi as the financial center of Pakistan.
Lahore is set to replace Karachi as the most populated city of Pakistan
Lahore is the second most populated city of Pakistan with a population of 15 million. Lahore is the capital of the most populated province of Pakistan, Punjab. Lahore is currently the most developed city of Pakistan in term of infrastructure. Lahore is famous for good employment opportunities and better educational, medical & re-creational facilities. In recent decades, Lahore has emerged as the technological center of Pakistan. Lahore has also the largest electronic center of Asia, Hafeez Center.
If we compare Lahore to Karachi, Lahore is less expensive and has high level of security. Millions of people have already settled from Karachi to Lahore in the last 3 years. Development of Gwadar Port will depopulate Karachi and people will settle to different regions. But Lahore will maintain its strategic importance and it will replace Karachi as the most populated city of Pakistan.