The Karachi Metropolitan Corporation (KMC) has asserted ownership of the historic Cotton Exchange Building, challenging a recent joint operation by the FIA and ETPB. Mayor Barrister Murtaza Wahab stated the KMC owns the building, deeming the federal bodies’ actions unjustified.
KMC Declares Ownership of Cotton Exchange Building
Mayor Wahab explicitly rejected the claim that the land is a trust property. “The KMC owns the building,” he confirmed, aligning with the Karachi Cotton Association’s (KCA) position. The KCA maintains lawful possession through a KMC lease valid until 2081. SindhNews.com reported this ongoing dispute.
The FIA and ETPB previously announced they had vacated the building, citing a federal government gazette notification that declared it trust property. They alleged illegal occupation by the KCA, with tenants paying rent without authority.
However, the KCA argues the property predates Partition and was legally acquired. Their secretary, Aftab Alam, stated the KMC renewed the lease in 1982 for 99 years. This contradicts the federal bodies’ stance that the property is evacuee land.
The situation highlights a significant legal and administrative conflict over a vital historical asset. The KMC’s firm declaration of ownership could escalate the dispute further.