KARACHI - Karachi is the country’s investment and trade gateway and a key player in economic performance of the country, contributing around $90 billion to the country’s total annual GDP and generating 65pc of the national revenue.
This was stated by Iqbal Dawood Pakwala, acting president Federation of Pakistan Chambers of Commerce & Industry.
He said there are around 15,000 industrial units in the 5 industrial units of Karachi and as such any disturbance in Karachi directly and indirectly affects whole economy of Pakistan. However, the industries of Karachi are suffering due to poor law and order situation, power shortages, low water supply, and gas loadshedding. “A one day strike in Karachi causes more than Rs 10 billion loss to Pakistan’s economy”.
Sindh CM talked about various measures that have been taken by the present govt to promote trade and industry.
Appreciating the vision of Benazir Bhatto, the Chief Minister recalled that the last PPP government under her leadership had announced a package of Rs 192 billion for Karachi to cope with energy problem by establishing a power generation project at Keti Bander which was shelved by the subsequent government.
He disclosed that Council of Common Interests (CCI) in its recent meeting had concluded that the solution of our energy crisis lies in exploitation of Thar Coal reserves which are of very high quality.
He informed that many foreign companies are working on eight blocks of Thar coalfield.