Karachi: Karachi Chamber Of Commerce and Industry (KCCI), President, Mian Abrar Ahmad, has expressed deep concern over highly deteriorating law and order situation in Karachi and shutdowns under the influence of political parties. He stated that commercial and industrial activities were severely hampered during the last week owing to shutdown/strikes by political parties which have brought losses of billions of rupees.
He lamented that no concrete efforts for safety and security of business and industrial community were observed and the Government and law enforcing agencies were giving mere statements and lip services. He said that during last few months, the illicit activities of extortion, murder and street crimes were rampant and such examples were not witnessed in the past.
In a statement to the press, President KCCI Mian Abrar Ahmad also rejected the recent hike in the petroleum prices, terming the decision as “brutal attack” which will slowdown and cripple the commercial and industrial activities.
He lamented that the economy was already injured owing to energy crisis and manifold internal and external threats. He stated that the KCCI takes a very exception to the POL prices hike and power and gas load-shedding. He cautioned that the decision would severely harm the economy, affect the masses as well as the Business Community.
He also warned that the nasty situation in Karachi, arising out due to deteriorating law and order situation, power and gas outages and increase in petroleum prices will inflict colossal financial losses, would widen the trade deficit leading to collapse in commitment to export orders, flight of capital, huge labour layoffs, and worsening of law and order situation and decline in the revenue of the government.
He said that the hike in POL prices would hamper all sectors of the economy along with an upshot to inflation. Nominal decrease in prices under consideration by the Government is not acceptable. Heavy taxed fuel will hit the entire economy, affect the masses as well as the industrial and commercial activities. In the wake of anti-business policies/decisions of the Government, many industries had already shifted to other countries and many are planning to do so.
He said that on one side government is contemplating to increase targets for nominal growth and on the other side its harsh decisions to increase POL prices, utility tariffs and gas and power outages and unbridled criminal activities are posing as killing threats for achieving the said target. At present, country is going through a very serious economic crisis in terms of escalating cost of production/ manufacturing based on continuous rise on POL products/fuel and utilities, he concluded.
For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce and Industry (KCCI)
Tel: +9221 9921 8001 -09
Fax: +9221 9921 8010
Email: email@example.com, firstname.lastname@example.org