ARY's Salman Iqbal's loan announcement amid crisis sparks backlash

KARACHI: On Saturday night, a devastating fire broke out at one of Karachi’s iconic shopping complexes, Gul Plaza, at approximately 10:30 p.m. The blaze quickly spread across the building, engulfing it on all sides. Despite rescue teams arriving at the scene, they were unable to contain the fire due to its intensity. As of now, 65 people are confirmed dead, 80 others are still missing, and all 1,200 shops, along with the structure and its goods, have been destroyed. Families are still desperately searching for their loved ones, with heart-wrenching stories circulating on social media.

Amid this tragedy, Salman Iqbal, CEO of ARY, made a loan announcement aimed at helping the victims of the Gul Plaza fire. In a press statement, Iqbal said, "The Gul Plaza tragedy is the tragedy of all Pakistanis. It is the supplier market for the whole of Pakistan. These are bulk business dealers, meaning around 13 crore rupees have been lost. I met women in person who were running their households through their businesses. I spoke with the governor to request a loan of 5 to 6 billion rupees. I asked for a loan grant because this city never begs; that’s why I asked for loans. Around 60,000 people have been affected by this disaster."

However, Iqbal’s announcement has sparked criticism from many, who argue that his focus on securing loans may not be the most appropriate response in the face of such widespread devastation.