Karachi Urban Transport Corporation

History of Karachi Circular Railway
Karachi Circular Railway was constructed and opened for traffic in two phases in the year 1964 and 1970. KCR   patronized till 1984, 104 trains operated carrying over 6.0 million passengers annually.

Due to lack of investment in infrastructure, Rolling Stock, the operational efficiency was marginalized, causing increase of running  time, lesser number of trains resulting in reduction of passengers and eventually closed in December 1999.

Revival of KCR
In December 2004 Government of Pakistan decided to revive Karachi Circular Railway (KCR) as Modern Commuter System. It was also decided that Karachi Urban Transport Corporation (KUTC) will be formed with Ministry of Railways, Government of Sindh and City District Govt Karachi as shareholders.

Karachi Urban Transport Corporation was incorporated on May 2008 in SECP (Securities & Exchange Commission of Pakistan) as Public Limited (Not Listed) with PR (60%), GOS (25%) & CDGK (15%) as shareholders according to their equity ratio.
In October-2005 Japan External Trade Organization(JETRO) working under the aegis of Ministry of Economy, Trade and Industry (METI) Govt. of Japan has carried out a Feasibility Study. In March 2006. Final Report recommended the Revival of KCR as a viable project for mitigating the commuter problems of the citizens of Karachi.

Japan International Cooperation Agency (JICA) carried out Final study and furnished Final report in May 2009.

On the basis of Final study, PC-I approved by the Planning Commission Govt. of Pakistan in a meeting of Executive Committee of the National Economic Council (ECNEC) on 3rd September 2009, at a cost US$ 1558.8 MI. (Rs. 128.6 Billion).