Karachi Mayor Barrister Murtaza Wahab has written to the Director of FIA Sindh, rejecting the Employee Trust Property Board (ETPB) claim of ownership over the Karachi Cotton Exchange property.
Mayor Wahab stated that ETPB failed to provide any evidence or documents supporting its claim. According to municipal and revenue records, the property was transferred to the Karachi Metropolitan Corporation (KMC) in 1936. KMC subsequently leased the property to the Karachi Cotton Exchange.
He clarified that ETPB’s claim is not based on facts and that the matter has been pending between KMC and the Cotton Exchange since 2006. As mayor, Wahab emphasized that protecting KMC’s property is his constitutional and legal duty.
He also highlighted the economic importance of the Karachi Cotton Exchange and criticized federal authorities for attempting to sell the property without verifying facts, which affected businesses and thousands of citizens.
