Economy
Karachi is the financial capital of Pakistan; it accounts for the lion's share of GDP and revenue. It generates over 60% of the total national revenue (federal and provincial taxes, customs and surcharges).[18] Karachi produces about 42 percent of value added in large scale manufacturing. In February 2007, the World Bank identified Karachi as the most business-friendly city in Pakistan.[19]
Most of Pakistan's public and private banks are headquartered on Karachi's I.I. Chundrigar Road, while most major foreign multinational corporations operating in Pakistan have their headquarters in Karachi. The Karachi Stock Exchange is the largest stock exchange in Pakistan, and is considered by many economists to be one of the prime reasons for Pakistan's 8% GDP growth across 2005[20]. During the 1960s, Karachi was seen as an economic role model around the world, and there was much praise for the way its economy was progressing. Many countries sought to emulate Pakistan's economic planning strategy and one of them, South Korea, copied the city's second "Five-Year Plan" and World Financial Centre in Seoul is designed and modeled after Karachi.[21][22]
A part of Karachi's financial district To be continoue