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No joke

August 25, 2008

THE goods transporters' strike in Karachi has entered its eighth day today. Its impact on the economy has been severe and if not called off immediately it could bring the business of most parts of the country, including Karachi, to a halt. Reportedly thousands of containers are just lying at the port and hundreds of ships have returned from the harbor without loading their cargo. Apart from pushing the inflationary spiral further upwards, the strike has aggravated the flour crisis in the country. According to reports, the supply of wheat to the flour mills has been suspended and over 1,000 chakki mills in Karachi have fallen silent. What is frightening, the flour is becoming more of a rarity in the market as its circulation has virtually ceased. With Ramzan just a few days away and the scourge of hoarding rearing its head, the situation would definitely be adding fuel to the fire. Moreover it is not this flour factor alone, the entire merchant community has been forced to suffer recurring losses worth millions of rupees on a daily basis.

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