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Karachi Transport Corporation (KTC) was  established on 1st February 1977 under Companies Act-1913.

The operations of KTC were closed on 20th March 1997 under Golden Hand Shake Scheme to its 3306 employees after an agreement between Government of Sindh and KTC employees.

Government of Sindh got loan from World Bank and cleared retirement dues, golden hand shake and other dues admissible under KTC rules and agreement.