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Karachi [Pakistan], June 28 (ANI) The Karachi Chamber of Commerce and Industry (KCCI) has voiced serious concern over the continued sealing and alleged forceful occupation of the historic Cotton Exchange building, warning that the development has severely disrupted Pakistan's cotton trade and undermined confidence in the country's business environment.
The chamber believes the closure has adversely affected hundreds of businesses and created uncertainty for exporters and investors, as reported by The Express Tribune. According to The Express Tribune, KCCI President Rehan Hanif stated that the chamber had received numerous complaints from member companies following the abrupt closure of the Cotton Exchange. Around 209 commercial offices operating within the building have become non-functional, including importers, exporters, cotton brokers, commission agents, textile businesses and firms linked to Pakistan's cotton supply chain. Many of these enterprises have reportedly been operating since 1947. Hanif said the closure has brought commercial operations to a halt, resulting in significant financial losses, contractual disruptions and damage to the credibility of businesses that rely on uninterrupted trade activities. Traders fear prolonged uncertainty could weaken Pakistan's already struggling export sector. Highlighting the historical importance of the Cotton Exchange, Hanif described it as the foundation of Pakistan's organised cotton marketing system. The facility has long served as a central platform connecting growers, ginners, textile manufacturers, exporters and brokers through a transparent trading mechanism that supports the country's cotton industry. Referring to ownership records, Hanif stated that the land was originally leased in 1883, while the Karachi Cotton Association (KCA) acquired the property through a registered conveyance deed in 1936. He added that the lease had subsequently been renewed until 2081, reinforcing the association's legal claim over the premises, as cited by The Express Tribune. The KCCI president also raised concerns over the reported failure to implement a June 18, 2026 order of the Sindh High Court, which permitted the Karachi Cotton Association to continue operating from the Cotton Exchange building until the matter is finally decided, as reported by The Express Tribune. (ANI)
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