KARACHI: Due to the ongoing mayhem in Karachi, the trade and industry have to suffer a loss of about Rs 2.7 billion a day, further fanning poverty, joblessness and deprivation and vicious circle goes on and on.
President Karachi Chamber of Commerce and Industries (KCCI) Muhammad Saeed Shafiq told PPI here Friday that it had been difficult for traders and industrialists to continue their business in prevailing circumstances when law and order at its worst.
He said business community suffers huge losses running in billions of Rupees on a day when a strike or mourning day is called. "How can one expect the boost economy And improve living standard of Karachiites when law and order is worsening with each passing day".
KCCI president explained the overall business activities go paralyzed whenever violence revisits Karachi with all activities of revenue generation stopped and production, trade and logistics activities halted.
Besides all these miseries, he said, water and electricity crisis is an added woe that could not be neglected at all. "In the absence of provision of security, traders can't run their business and unfortunately it seems the time has arrived to shut all industries as there is no solution in sight to curb the menace of deteriorating law and order," Saeed added.
Financial loss to petroleum industry: Chairman All Pakistan Petroleum Dealers Association Abdul Sami Khan said it was highly unfortunate that law and order was ruining our industry but there were no alternatives exist to recover such loses.
Citing an estimate, he said Rs 7million loss was suffered by petroleum industry in Karachi on average strike day. Sami said it was with responsibility of the government to ensure secure environment for businessmen and traders but it seemed it had failed to do so.
Copyright PPI (Pakistan Press International), 2011
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