Privatization Minister, Chairman CDA Discuss Convention Center’s Sale

The Ministry of Privatisation will put together a revised transaction structure for the privatization of the Jinnah Convention Centre (JCC) in consultation with Capital Development Authority (CDA). The matter was discussed during a meeting between Abid Hussain Bhayo and CDA Chairman Amer Ali Ahmed.

The meeting was held in the backdrop of the CDA Board’s reservations regarding the transaction structure for privatization of JCC. It was agreed that the environmental effects and other possibilities for turning around the JCC into a profitable body would also be considered during the consultations with potential investors.

The City of Karachi Development Authority (CDA) moved to issue a no-objection certificate favoring the privatization of JCC’s land. It was discussed that in 2020, the federal cabinet had approved the transaction structure of 7.59 acres to a private owner.

However, some board members had reservations over converting the entire area from an amenity to commercial use. The process of privatization did not move ahead due to the reservations of the Board members.