World Memon Organisation President Salman Iqbal Visits Gul Plaza, Announces Rs. 5 Billion Loan for Affectees

President of the World Memon Organisation (WMO), Salman Iqbal, visited Gul Plaza and met with Gul Plaza Union President Tanveer Pasta along with members of the local business community. The visit brought hope to hundreds of traders and families affected by the recent losses at Gul Plaza.

During his address, Salman Iqbal announced a major relief initiative, stating that up to Rs. 5 billion will be provided as loans to the Gul Plaza affectees to help them restart their businesses and stand on their feet again.

Gul Plaza: A Business Hub for All of Pakistan

Speaking to traders, Salman Iqbal emphasized that Gul Plaza is not just a market for Karachi but for the entire country. He said many people do not realize that Gul Plaza is the backbone of several product supply chains.

“Products come to Gul Plaza from all over the world and are supplied across Pakistan,” he said. “Many big shopping malls and shops are filled because of Gul Plaza.”

He highlighted that the plaza plays a critical role in Pakistan’s trade and retail economy.

Massive Financial Losses Suffered by Traders

According to Salman Iqbal, around 1,200 shops were affected, resulting in an estimated loss of Rs. 1,200 to 1,300 crore worth of goods. These losses have badly impacted small traders, shop owners, and families who depended entirely on these businesses.

He shared emotional moments from his visit, stating that he met many women who used to support their households through small businesses linked to Gul Plaza.

“I have met sisters who were running their homes through these businesses,” he said, expressing concern over the social and economic impact of the losses.

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Appeal to Sindh Government and President Asif Ali Zardari

Salman Iqbal revealed that he has formally requested the Government of Sindh and President Asif Ali Zardari to treat the Gul Plaza issue as a matter of national economic importance.

He stressed that resolving this issue is not just about helping traders but also about protecting Pakistan’s economy and business ecosystem.

“This is a very important task for our economy, and it must be solved seriously,” he said.

Rs. 5 Billion Loan Offer to Restart Businesses

In a major relief announcement, Salman Iqbal said that the World Memon Organisation is ready to provide Rs. 5 to 6 billion in loans to help affectees restart their businesses.

Clarifying his position, he explained that this support is offered as a loan, not charity, because the people of Karachi are self-reliant and dignified.

“Karachi has always given life to Pakistan. We have never asked for anything,” he said.

He further added that traders can:

Restart their businesses
Become financially stable again
Repay the loan whenever they are able

“I told them I will give you a loan of Rs. 500 crores so you can stand on your feet again,” he said.

A Message of Dignity and Self-Reliance

Salman Iqbal’s speech strongly reflected the spirit of Karachi’s business community—self-respect, resilience, and hard work. He made it clear that the goal is not dependency, but empowerment.

He concluded by asking Gul Plaza Union President Tanveer Pasta what steps had been discussed with the government, highlighting the need for coordinated action.

Conclusion

Salman Iqbal’s visit and loan announcement have brought renewed hope to Gul Plaza affectees. His commitment shows the importance of private-sector leadership and community support during times of crisis. If supported by the government, this initiative could help revive hundreds of businesses and protect thousands of livelihoods.