Friday, December 17, 2010

I.I. Chundrigar Road, Karachi

Ibrahim Ismail Chundrigar Road as known as I. I. Chundrigar Road is the financial headquarters of Pakistan and the center of Karachi's banking and financial institutions. Situated in the heart of Karachi, it was known as McLeod Road but was later renamed after the former Prime Minister of Pakistan, Ibrahim Ismail Chundrigar. The road starts from the Merewether Memorial Tower near Former Lloyds bank building (Now Saudi-Pak bank) up to Shaheen complex. An estimated 15 percent of all Karachi traffic pass from this road.

Most of the headquarters of Pakistan's financial institutions are located on the I.I. Chundrigar Road, including the State Bank of Pakistan which is Pakistan's Central Bank, Major Banks like HBL Plaza, MCB Tower, National Bank of Pakistan, Bank Al-Falah, Standard Chartered Bank, CitiBank, UBL, etc.

Pakistan's most circulated newspapers including Jang Newspaper, Daily Times, TV Channels including Geo TV, CNBC Pakistan, Hum TV, AAG TV and Dhoom TV are also located on I.I. Chundrigar Road. Consulates of Tunisia, Sweden, Sierra Leone, Norway, Guinea, Gambia and Finland are also based here.

Two of Karachi's largest computer markets Uni Plaza and Techno city; Police Headquarters and nearby Rangers Headquarters are also located near this road.

In 2007 Sharjah-based Enshaa Holdings in a joint venture with NLC has launched Karachi International Financial center on II Chundrigar road which will comprise of a hotel, office towers, serviced apartments and a railway station. The Karachi Financial Towers will include two identical 37-storey towers connected by a three-floor glass skybridge.

I. I. Chundrigar Road has always been the financial center of Karachi's economy. Most of the biggest businesses and financial institutions in the city have offices here including the Karachi Stock Exchange, Karachi Cotton Exchange, Mutual Funds, Money Exchangers, Auditing companies, Insurance companies and Shipping companies. Karachi's largest GPO and Telegraph office is also located here. British-era architecture on this street ranges from the Former Lloyds Bank building to the City Railway Station buildings and administrative offices. This road also preserves some of the finest private architecture from Karachi's early period. World famous "Mashhud Chowk" is also located at the junction of Shara-e-Faisal and Ibrahim Ismail Chundrigar Road.

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