Businesses dwindle in face of Karachi unrest
Volumes for businesses in Karachi dwindle to less than 20 per cent of their historic levels.
KARACHI:
Volumes for businesses in Karachi have dwindled to less than 20 per cent of their historic levels due to recurring spates of violence and the dismal law and order situation in the city, local traders said.
Addressing an emergency press conference at Arambagh market on Tuesday, Chairman Karachi Tajir Ittehad, Atiq Mir contended that poor law and order situation had kept shoppers out of markets before Eid and the same situation has persisted in the city during the past few days.
He said that business owners have suffered irrecoverable losses and threatened that if target killings do not stop and if government is not able to address the dismal law and order situation, traders may be forced to lend their support to movements against the government.
Representatives of various markets from the city also heavily criticised the government for failing to provide security to the citizens.
Markets near Rizvia society, Golimar and Nayabad were the worst affected, where businesses were mostly shut through Tuesday. Fear of violence also kept residents of Qasba colony, Lyari and Korangi locales from venturing out to work and markets.
“Factory workers residing in affected areas such as Nazimabad were largely unable to get to work” said Chairman FB Area Industrial Association, Shahid Ismail. He added that although factories were open, attendance was thin due to lack of transport.
Extremely volatile security situation of the city coupled with up to four hours of load shedding during business hours has crippled businesses, said Jamil Paracha, a wholesaler from Mithadar market. He added that “we are being squeezed on all fronts and most businesses have been forced to lay off employees as a result”.
Traders and industrialists have called for a swift and long lasting halt to the string of killings and incidents of violence in Karachi, urging the government to take concrete measures in this regards.
Published in The Express Tribune, September 22nd, 2010.
Volumes for businesses in Karachi have dwindled to less than 20 per cent of their historic levels due to recurring spates of violence and the dismal law and order situation in the city, local traders said.
Addressing an emergency press conference at Arambagh market on Tuesday, Chairman Karachi Tajir Ittehad, Atiq Mir contended that poor law and order situation had kept shoppers out of markets before Eid and the same situation has persisted in the city during the past few days.
He said that business owners have suffered irrecoverable losses and threatened that if target killings do not stop and if government is not able to address the dismal law and order situation, traders may be forced to lend their support to movements against the government.
Representatives of various markets from the city also heavily criticised the government for failing to provide security to the citizens.
Markets near Rizvia society, Golimar and Nayabad were the worst affected, where businesses were mostly shut through Tuesday. Fear of violence also kept residents of Qasba colony, Lyari and Korangi locales from venturing out to work and markets.
“Factory workers residing in affected areas such as Nazimabad were largely unable to get to work” said Chairman FB Area Industrial Association, Shahid Ismail. He added that although factories were open, attendance was thin due to lack of transport.
Extremely volatile security situation of the city coupled with up to four hours of load shedding during business hours has crippled businesses, said Jamil Paracha, a wholesaler from Mithadar market. He added that “we are being squeezed on all fronts and most businesses have been forced to lay off employees as a result”.
Traders and industrialists have called for a swift and long lasting halt to the string of killings and incidents of violence in Karachi, urging the government to take concrete measures in this regards.
Published in The Express Tribune, September 22nd, 2010.