Speaking as the chief guest at the launching of new truck 'Volvo FM' in Karachi late Sunday night, he said the Urban Transport Scheme was launched in Karachi about a year back but it did not get the concession under the said SRO due to its withdrawal by the government last year.
The City Nazim said he has contacted the CBR chief, who assured him to review the SRO and restore it as soon as possible.
The Nazim noted that urban transport schemes were launched in Punjab and other provinces about four years ago and they fully enjoyed benefits of tax concession under the said SRO.
He said: "The city government likes to eliminate mini-buses from the city transport. This cannot be done in one go. These mini-buses will be phased out gradually in a planned manner and in a logical way and by inducting big buses in the city."
Naimatullah Khan informed the gathering that the city government has approached the federal government to allocate 60 million dollars to the city government to pay its share in financing the mass transport scheme.
"A Chinese firm has agreed to implement the mass transport scheme costing 600 million dollars," he said, adding, "this firm will provide 90 percent of the cost of the project whereas the rest will be financed buy the city government."
He said that the Chinese firm is preparing a feasibility report of the project that is likely to be completed in a year.
He congratulated Volvo for introducing their new and latest technology product Volvo FM in Pakistan.
The City Nazim also invited foreign companies to set up automobile manufacturing units in Karachi to produce buses and trucks.
Tomas Thuresson, Volvo Marketing Manager for Pakistan, spoke about the core values of Volvo and the technological advancement in the field of transport and its benefit to Pakistan.