I hope it remains Air Karachi after it starts it's flight operations and does not become Air Islamabad or Air Lahore and barely flies internationally from Karachi. Just like how AirSial has handful flights from Sialkot and most of its flights from Islamabad and Lahore.
I doubt they will be able to compete with EK and other established airlines out of Karachi internationally. Domestically as well, it'll be same old KHI-LHE and KHI-ISB routes and few flights to Quetta and Peshawar here and there.
What's their larger objective here, hub and spoke operations or point to point operations? Won't mind a largely Karachi based carrier cause all the other airlines in Pakistan focus mainly on ISB and LHE markets.
There are many unserved / undeserved routes from Karachi internationally which Air Karachi can exploit but it'll be tough.