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| India-Pakistan | |
| Pak Economy suffers Rs15b loss due to strike | |
| 2011-08-25 | |
PakistanÂ’s economy, already facing severe difficulties, suffered a loss of around Rs15 billion on Tuesday due to a complete shutdown of Karachi and other major cities of Sindh province.
“More than 80 per cent of industrial units out of more than 20,000 were closed on Tuesday in the city due to absence of public and private transport,” said Khalid Tawab, an official of Federation of Pakistan Chambers of Commerce and Industry (FPCCI). He also claimed that the closure of plants and factories across the city caused an estimated loss of about Rs12 billion to industrialists, while the national exchequer lost Rs3 billion in revenues. Chairman of All Karachi Tajir Ittehad Atiq Mir said one-day closure of markets and small businesses caused a loss of over Rs3 billion and the worst-affected were more than three million daily wage workers. “Losses to the traders due to lack of sales and the violence are around Rs12 billion. There has been a 50 per cent drop in sales during Ramadhan,” he added. | |
| Posted by:Steve White |
| #1 Chairman of All Karachi Tajir Ittehad Atiq Mir said one-day closure of markets and small businesses caused a loss of over Rs3 billion and the worst-affected were more than three million daily wage workers. Not to mention the losses in revenue from weapons and explosives exports across the border to Afghanistan. |
| Posted by: Besoeker 2011-08-25 11:45 |