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Economy loses Rs15 billion as ‘mourning’ halts industry, trade |
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Muzaffar Hameed |
August 24, 2011, 07:21:25 AM |
The country’s economy suffered a loss of around Rs15 billion on Tuesday owing to a complete shutter down in markets and industrial estates across the port city, said representatives of industrialists and traders. The non-availability of cargo transport affected the country’s exports and business in other parts of the country as well, businessmen said. Khalid Tawab, vice president of Federation of Pakistan Chambers of Commerce & Industry, claimed that the closure caused an estimated loss of about Rs12 billion to industrialists. Atiq Mir, chairman of All Karachi Tajir Ittehad, claimed that one-day closure of markets cause a loss of over Rs3 billion in Ramazan. He said that traders closed their shops voluntarily to support MQM’s call for the ‘day of mourning’. “We, the traders, have also grave concerns about ongoing violence in the city. We also wanted to record our protest and put pressure on the government to take action against the culprits.” Khalid Tawab said that more than 80 percent industrial units were closed in the city, as workers failed to reach factories due to non-availability of public transport on roads. Full story
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