Thursday, June 11, 2009
By our correspondent
“The violence will badly dent the economy of the commercial and industrial hub of the country and besides losses to businesses, the federal government will lose billions of rupees in taxes.”
He said the situation was all the more alarming as
“As such, it will become difficult for the industries to meet export orders on time, which in turn will damage
Chawla pointed out
He said the government was trying its best to expand the tax net in the coming budget, but all these efforts would prove futile due to the prevailing law and order situation in
He complained the government was not paying attention to the issue and that was the reason business activity in the city was facing a decline, which was badly affecting the national economy. “There is a serious fall in foreign investment in the city and unemployment rate has touched a record high.”
Other business leaders such as Tariq Sayeed, SM Muneer, Tanvir Sheikh and Iftikhar Malik were also unanimous in their view that target killings and unlawful activities, including incidents of arson, had caused serious miseries to the dwellers of Karachi.
They appealed to the citizens to actively contribute to restoring normalcy and peace in order to avoid further casualties. They urged Karachi-based leaders of all political parties to play their role in the revival of peace while using their influence among their followers.
They appealed to the government to look into the matter as a large number of industrialists and traders were encountering a severe crisis and struggling hard to continue their business. They were being compelled to close down their units, which could lead to more unemployment, poverty and chaos, they added.
Wednesday, June 10, 2009
Political violence to dent economy, says FPCCI
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