NEW YORK - Taliban extremists have resorted to 'organised crimes to generate funds for their militant insurgency being carried out in Pakistans north-west, using Karachi as a place to regroup, smuggle weapons and even work seasonal jobs, The New York Times reported Saturday. The police in Pakistans biggest city say the Taliban, working with criminal groups, are using Mafia-style networks to kidnap, rob banks and extort, generating millions of dollars to generate funds for their counterparts based along the Pakistan-Afghanistan border, the newspaper said in a dispatch from Karachi. Officials also admit that being the countrys financial nerve, Karachi has emerged a soft and favoured target of Talibans new business. There is overwhelming evidence that its an organised policy, Dost Ali Baloch, assistant inspector general of the Karachi police, was quoted as saying. This is where they come to hide, where they raise their finances, said a Karachi based counter-terrorism official, on conditions of anonymity. Talibans increasing involvement in organised crimes in the city can be gauged from the fact that about eighty per cent of bank robberies conducted in the recent past are now believed to be related to the insurgency and other militant groups, The NYT said. Officials believe that kidnapping for ransom may have been the single largest revenue source for the Taliban chief Baitullah Mehsud, who was killed in a US drone strike earlier this month. Karachis business community is the prime target of the insurgents. Theyre real professionals. They know for sure that whoever they take can afford to pay, said Ahmed Chinoy, a textile manufacturer who is the deputy head of a citizens committee. People are so perturbed and frightened by the deteriorating situation that they have started to take matters into their own hands, but they believe such steps are inadequate and the authorities must step-in. If we give, were in trouble, and if we dont give, were in trouble. Were being ground down in between, said Abzal Khan Mehsud, a member of the Oil Tanker Owners Association. The worse the economy is, the more jihadis it will create. This is a money war, said Idrees Gigi, a textile manufacturer in North Karachi.