Every organisation drifting towards bankruptcy: KCCI

Every organisation in the country is drifting towards bankruptcy, said President of Karachi Chamber of Commerce and Industry ((KCCI) Mohammad Saeed Shafiq here of Friday. Speaking at a meeting of Heath and Education Sub-committee of KCCI, he said that economic conditions are alarming and they are fast moving from bad to worse.
He said every day a new issue is surfaced that erodes industrial and trading activities in the city. Referring to Pakistan Railways, he said that the organisation is on the verge of collapse and it has no money to purchase diesel and to carry out routine repair work and maintenance. Similar is the case of Sui Southern Gas Company (SSGC) which has no finance to pay salaries of its employees, he added.
Regarding more than 8 hours' long load shedding in industrial areas of the city, he said industries cannot survive in present conditions and they are bound to be closed. He was of the view that government will not be able to achieve its revenue collection and export targets if existing conditions did prevail.
Saeed Shafiq lashes out on government and said that alarming bell in ringing and urged the people sitting on the helm of affairs to move fast to save organisation from collapse. On the attitude of bureaucrats and government dignitaries, he said chambers and trade bodies all over the world play important role in making government policies but in Pakistan they do not even brother to consult.
He said that the chamber has invited Prime Minister, Governor and Chief Minister to attend and inaugurate its mega annual event "My Karachi Oasis of Harmony" but none of them turned up nor any dignitary from government side visited the event. The President said it is not the job of the Chamber to organise such events. The purpose of holding this mega event is to promote Pak made products and improve the image of Pakistan in the eyes of foreigners. Foreign media's negative propaganda has tarnished Pak image in the eyes of foreigners, he added.
He further pointed out in this meeting that Chamber invited Secretary Heath Department Sindh Rizwan Ahmed but he did not bother to turn up to discuss health related issues. The president further noted that the government spending only 0.7 percent of GDP on health which is not even enough to provide basic health facilities. It is private sector and NGOs whose contribution sufficiently caters heath services in the country.