Pakistan’s economy is in shambles, industry is closing down, exports’ target has become impossible to achieve: Korangi Association of Trade and Industry
Karachi, May 03, 2013 (PPI-OT): The Trade and Industry has expressed its sheer concern over the KESC’s SOS for the possible load-shedding for long hours due to want of cash flow. The Patron In-Chief Korangi Association of Trade and Industry (KATI) S M Muneer, Chairman Mohammad Zubair Chhaya and Vice Chairmen Najmul Arfeen and Niaz Ahmed while showing their utter concern over the KESC’s SOS to the federal government saying that after May 8, the power company could resort to long hours load-shedding up to 14 hours daily due to short of energy and additional demand during summer.
They said that like Punjab Karachi’s industry is also feared to be at stake as KESC has already carrying out load-shedding in Karachi’s industrial zones and industrial units are suffering due to the power outages in both the shifts.
They said that Pakistan’s economy has already in shambles, industry is closing down, exports target has become impossible to achieve besides foreign exchange reserves have gone down to dangerous level and at this juncture KESC is going to give another blow to the nation.
They said that caretaker government should intervene without any fear or influence and save the Karachi’s industry from total collapse which is feeding the entire country by generating about 70 per cent revenue for the government.
They said that caretaker government should hold free and fair elections but in the meantime it has to give priority to the country’s economy and rescue industry from. They also appealed to the provincial minister Mian Zahid Hussain who hails from industry should also use his good offices to save Karachi’s industry from massive load-shedding.
For more information, contact:
Press Secretary KATI
Korangi Association of Trade and Industry (KATI)
ST-4/2, Sector 23, Korangi Industrial Area,
Tel: +9221 3506 1211 -2
Cell: +92346 2012346
Fax: +9221 3506 1215