KARACHI (Dunya News) – A key development has emerged in the case of the Karachi Cotton Exchange building, after United Business Group (UBG) Patron-in-Chief SM Tanveer raised the issue directly with Interior Minister Mohsin Naqvi during a recent event in the city.
The matter surfaced at a Karachi Chamber of Commerce ceremony, where business leaders highlighted concerns regarding the sealing of the historic Cotton Exchange building. Responding swiftly, Mohsin Naqvi granted an immediate appointment to a delegation representing the Cotton Exchange, signalling urgency at the federal level.
Sources indicate that the interior minister is scheduled to hold a crucial meeting tomorrow with the Cotton Exchange delegation and brokers. The meeting is expected to address key concerns surrounding the closure and future of the facility, which has long served as a central hub for cotton trading activities in the country.
In parallel, another high-level discussion is set to take place involving Mohsin Naqvi, SM Tanveer, and the Director General of the Federal Investigation Agency (FIA). This meeting will focus specifically on the status of the sealed building and potential steps towards its restoration.
The Karachi Cotton Exchange building had previously been sealed by the FIA, although the specific grounds behind the action have not been publicly detailed. The closure has raised concerns among stakeholders in the textile and trading sectors, given the building’s longstanding role in facilitating cotton market operations.
With back-to-back meetings scheduled, a significant decision is expected regarding the unsealing and rehabilitation of the building. Officials are likely to weigh regulatory considerations alongside industry demands as they deliberate on the next course of action.
The outcome of these discussions is being closely watched by business communities in Karachi and beyond, as it may determine the operational future of one of the country’s most prominent trading institutions.