I am pretty sure the first phrase that jumps to your mind when you see the list of these cities KARACHI, MUMBAI, DELHI, DHAKA written here is: Cosmopolitan Metropolis! Yes, they are internationally acclaimed hubs for regional and international connections and communications. Without doubt, all of these cities closely follow the lines of your imagination. But there’s more to them than you actually knew…
Life in these cities is fast paced and a day is 18 hours long. Night comes and goes by quickly without slowing the pulse of verve. Some might think that living in these cities would be very pricey with the daily cost for survival running in thousands. But the Economist Intelligence Unit (EIU) Survey has proven us all wrong. The Economist Intelligence Unit is the world’s leading provider of country intelligence which operates unfettered by the concerns or influence of governments, commercial organizations or special-interest groups. According to the Worldwide Cost of Living survey produced by the EIU’s Data Services division, the cities falling in the geographical boundaries of South Asia are among the cheapest ones to live. From the South Asian category, Dhaka tops the list with New Delhi, Mumbai and Karachi close behind. Karachi occupies the tenth tank in the list and gives the foreign investors and multinationals, planning to set foot in the place, something to ponder over. The cost of living in every city is calculated by gathering detailed information on the cost incurred on more than 160 items from food, toiletries and clothing to domestic help, transport and utility bills in each city. What we arrive at is a cost-of-living index which is calculated from the price data to express the difference in the cost of living between any two cities.
India and Pakistan’s cheap labor and land costs are making the area “attractive to those bargain-hungry visitors or investors willing to brave some of the security risks that accompany such low prices,” the survey said, as reported by the Wall Street Journal.
This index is very helpful for Multinationals who apply it to arrive at a fair cost of living allowance to be given to their foreign employees. Foreign investors, travelers, and emigrant businessmen can greatly benefit from these indices since it gives them a clear picture of price information for various cost categories, helping thereby to create distinct allowances for covering housing costs, school fees and business trips.
The way I see it, we can heavily benefit from the results of this survey. Karachi occupies a key position in the Global commerce and transportation since it borders one of the most frequently used water channels of the World. As a port city and a hub for commercial and financial activities, Karachi has what it takes to become a quintessential metropolis. If only the political and security situation in Karachi could be tamed, the presence of foreign businesses and multinationals would double which would not only bring revenue to the country but also technology, latest machinery and healthy competition. And for this to happen, Government, Establishment and private sector all need to cooperate on practical terms.