The opening ceremony of GCCE, then named Basantsing Ajumal Advani College of commerce and 22nd 1945. It was established under private management through the efforts of the Sindh collegiate board in a small annexe adjacent to the D.J Science College situated at the western end Dr.Ziauddin Ahmed road. The first group of students graduated for this building under the able guidance of Prof. Iftikhar Ali who was the first person to hold the office of the principal.

After the establishment of Pakistan, the management of the college was taken over by the Govt. of Sindh in July 1948. this was the turning point in the history of the college for since then it was through sheer devotion, dedication and the sincere efforts of the administration and the faculty the college over the period of 50 years has turn in to a prestigious seat off learning commerce and economics in Pakistan and has a record of securing top position continuously in academic and co-curricular activities.

The college today has its own modest but impressive building situated at the eastern end of Dr.Ziauddin Ahmed Road facing the Bagh-e-Jinnah and Pearl Continental Hotel. This building was constructed in 1967 and the first batch to pass out of that of 1968. The principal at that time was Prof. N.A. Farooqui, who himself was a man of very high repute for he made selfless efforts for the glory of this institution, for which he is remembered even today.

At the time of its establishment this college was co-educational and this system prevailed till 1993 when due to the directives of the board the co-educational system was abolish and the boys and girls were segregated. Due to this decisions various additions and improvements were made in the original building which now has a separate wing which was constructed recently. The Boys wing` is accommodated in a double story building which houses an excellent library with a collection of more than 20,000 books on varied subjects and topics.

In keeping with the main objectives of this college which were to impart out standing education aimed toward making every student a good citizen, a dedicated professional and most of all considerate human being, this institute, through only 50 years old, has in its time produce numerous brilliant students who have enhanced its glory in all walks of life, be its politics, business, the financial sector, sports or even the glamorous show business. Every body who was ever affiliated with this college stands tall and feels proud that they belong to an institution of such excellence.