Production plummeted between 15 percent and 20 percent, they claimed. Industrialists said that majority of multinational companies already have their own transport to bring staff. Industrialists said that Karachi, which contributes about 68 percent of the country's tax revenue, is fast becoming a "no-business and no-trade city", as there is no protection to life and property.
Industrialists claimed that one day closure of industrial units in the city causes around Rs 5 billion production and revenue losses.
Target killers killing people, businessmen, shopkeepers and corporate leaders or in some cases even schoolgoing children, they said. They said that police had failed to apprehend killers. They said political stability had a direct link with economic stability. The acts of merciless killing were on the rise. No one was safe in the prevailing worst law and order situation, they maintained.
They said that government should realize the crisis-like situation and make efforts to overcome it. They said that the country is passing through a very crucial time and the entire nation is suffering due to the skyrocketing prices of food and utilities whereas job opportunities and sources of income have squeezed massively, the time-to time-paralyzing of city may result to a total collapse of the system. Chairman, Korangi Association of Trade and Industry (KATI), M Zubair said that only 30 percent industrial workers managed to report on duty in this industrial estate which adversely affected production activity.
He said it was second holiday as industry remained closed on December 25 on account of Quaid-e-Azam birthday. Now industry will remain closed on Thursday as government had announced holiday on Benazir Bhutto's death anniversary.
Senior Vice Chairman, Site Association of Industry (SAI), Dr Qazi Ahmed Kamal said that attendance in this industrial estate remain around 40 to 45 percent, which hit industrial production activity adversely. He said supply of finished goods to the wholesale and retail markets remained completely paralyzed throughout the day due to non-availability of transport and closure of markets.