(August 31, 2020)
President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Monday said the most important city of Karachi is one of the most mismanaged cities in the world.
All the stakeholders are responsible for the collapse of infrastructure in Karachi which will hit the economy and masses throughout the country, he said.
Mian Zahid Hussain said that Karachi is contributing Rs 2600 billion to national exchequer while improvement can boost revenue to Rs 4000 billion.
Talking to the business community, the veteran business leader said rains have stopped activities across Karachi while the port has been closed as staff and labourers cannot come for their jobs which has blocked imports and exports.
He noted exports are stuck since 12 days adding to cost of doing business which can also reverse the trend of increasing exports for the last few months.
He said that the value-added textile sector is suffering a lot as they were hopeful of betterment after some relaxation in virus-related lockdown in the west.
The development can also reverse the steps by the government and central bank to boost the economy and increase exports while the agriculture sector has also faced problems due to torrential rains.
He said that NDMA has also disappointed people and the business community while the government must realize that national development is impossible unless infrastructure and logistics system of Karachi is improved.
