KARACHI: The historic press club building in Pakistan’s seaside megacity of Karachi was formally handed over to its governing body on Monday.
The transfer of the ownership of the building, which went through five years of restoration and preservation work, took place in a ceremony which was attended by the Chairman of the Endowment Fund Trust (EFT), Jehangir Siddiqui, managing trustee Hameed Haroon, senior members of the journalist fraternity, members of the civil society, and other officials of the trust.
“The entire building was almost in ruins and required preservation work. So, the press club reached out to the EFT for the restoration of this British-era building,” Aamir Latif, the club’s former secretary, told Arab News.
Mohanlal S. Ochani, EFT’s supervising engineer who has helped with the restoration work of more than a 100 other historical buildings — including Karachi’s Mohatta Palace — said that more than Rs10 million were spent for the process which took five years to complete.
“When we started working, the dampness of the stones was decaying the building. The rotten stones were replaced with stones of the same size and shape, which were brought from Jung Shahi (a town in Sindh’s Thatta District),” Ochani told Arab News, adding that the second important restoration element was of the woodwork for which Burma Teak and Mahogany Philippines, which have a shelflife of hundreds of years, were used.
The building has a conference hall, dining facilities, two small rooms, front and rear verandas on the ground floor, committee rooms, a library, and offices on the first floor, he added. It also has 37 doors and more than 50 window fanlights.
“The EFT also restored a large mural painted by a famous Indian painter, M.F. Hussain, which is on the wall of Ibrahim Jalees Hall. Other images restored by the EFT include portraits of Habib Jalib and Faiz Ahmed Faiz, a mural and Ya Rab Calligraphy by Shakil Ismail,” Ochani said.
Karachi Press Club Secretary, Maqsood Yousuf said that the facility had a rich history and had been a hub of various freedom-of-press movements in Pakistan. “Not only is the building remarkable but the history of the club, which began its activities here in 1958, is also a matter of pride for the journalist community,” Yousuf told Arab News.
Once the residence of Pakistan’s former president, Iskandar Mirza, it was this historic building where the movement for the restoration of democracy and political alliance was formed during General Zia-ul-Haq’s military rule, he said, adding: “The restored heritage building and the proud legacy of our predecessors will go on for centuries.”
Karachi Press Club handed over to journalists after restoration
Karachi Press Club handed over to journalists after restoration
- Colonial-era building was witness to plenty of political upheavals in the country’s history
- The place had become a hub of various freedom movements in Pakistan
JazzCash signs deal with Binance in UAE to explore regulated crypto adoption in Pakistan
- MoU focuses on awareness and development of compliant virtual-asset solutions in Pakistan
- Pakistan introducing licensing regime for crypto firms as it formalizes digital-asset oversight
ISLAMABAD: Pakistani financial-technology platform JazzCash has signed a memorandum of understanding with global cryptocurrency exchange Binance in the United Arab Emirates to explore cooperation on virtual-asset use and education in Pakistan, the company said on Wednesday.
The agreement sets a framework for discussions on awareness campaigns and future digital-asset products that would comply with Pakistan’s emerging crypto regulations. The move signals growing engagement between global blockchain companies and Pakistani fintechs as authorities shift toward formal licensing of the sector.
Pakistan has spent the past year drafting rules to regulate the fast-expanding market for digital coins and tokens, requiring virtual-asset service providers to obtain government approval. Officials say the transition is aimed at curbing money-laundering and terror financing risks, boosting transparency and encouraging responsible innovation.
“JazzCash has always championed technologies that expand financial access while promoting secure and inclusive participation in the digital economy," JazzCash Chief Executive Officer Murtaza Ali said.
“By entering into this exploratory MoU with Binance, we are advancing our efforts to understand how global digital-asset trends can support Pakistan’s evolving regulatory landscape. We aim to engage responsibly, support regulatory progress, and advance opportunities that build trust, transparency and innovation for our customers.”
The MoU does not establish a commercial partnership, but marks one of the most high-profile engagements between Pakistan’s fintech sector and a global crypto exchange as the country moves toward regulated digital-asset adoption.
Binance welcomed the cooperation, framing it as part of Pakistan’s shift toward regulated digital-asset activity.
"With regulatory frameworks like [Pakistan Virtual Assets Regulatory Authority] PVARA paving the way, this collaboration represents a significant step toward expanding financial inclusion and empowering more people to access the benefits of blockchain technology in a secure and compliant environment," Binance Chief Marketing Officer Rachel Conlan said.
Earlier this month, Binance executives met Pakistani finance officials to discuss digital-payments reform, blockchain-skills training and the potential for Web3-linked jobs. Pakistan also set up the Pakistan Crypto Council and formed PVARA this year to license and supervise crypto-asset service providers.
