Karachi
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said Karachi is the economic hub of Pakistan and ignoring the needs of this important city tantamount to playing with the weak economy.
The government gets 68% of its revenue from Karachi, while its share in exports is 54% while its share in textile exports is 52% which cannot be ignored, he said.
Mian Zahid Hussain said that the industrial sector in Karachi is suffering from low gas pressure while the gas of some of the industry has completely been discontinued resulting in a shutdown.
Talking to the business community, the veteran business leader said that the gas problem has made it impossible for the non-export industry to operate resulting in unemployment and heavy losses.
He said that investors are not able to fulfill their commitments on time due to the gas crisis which is affecting their reputation and they have to pay fines.
The business leader added that the closure of industries due to the gas crisis will not only affect employment but the government will have to bear huge losses in terms of revenue while it is also increasing the tension between the provincial government and the center.
