Lahore Chamber of Commerce and Industry worried over Karachi killings

Lahore, June 27, 2012 (PPI-OT): The Lahore Chamber of Commerce and Industry Wednesday strongly condemned killing of innocent people in Karachi and urged the Federal Government to take strict measures to stop the ongoing bloodletting.

In a statement issued here, the LCCI President Irfan Qaiser Sheikh said that the entire business community was in a state of shock over the killing of around 200 people in less than 30 days in the month of June.

The LCCI President said that the deteriorating law and order situation has not only hit hard the economy but it has also put a question mark on government’s ability to govern one of the largest cities in the world, called the city of lights, where nearly 20 million persons reside.

“Karachi is Pakistan’s economic engine, whenever it shuts or faces violence, it affects the whole economy. Its taxes and industrial and services sectors feed the exchequer and its port being the gateway gives life to the rest of the country,” he said. “If one wants to cripple Pakistan’s economy, one should do nothing but to get Karachi paralyzed.”

“How a businessman would be able to run his business with a peace of mind when around a dozen people would be killed in different localities almost daily.”

The LCCI President said that it is now an established fact that the killings in Karachi are premeditated plan to destroy the country’s economy and tarnish its image internationally.

Irfan Qaiser Sheikh said that the government needs to review the working methodology of law enforcement agencies that are eating up huge revenue in the name of maintaining law and order in the country.

The LCCI president said that Karachi is the most important business hub of the country that generates 68 per cent of total revenues and its share in the GDP is 25 per cent and until and unless a concrete, comprehensive and foolproof strategy, that too in consultation with political parties and business community was evolved any good to the economy would be day-dreaming.

Irfan Qaiser Sheikh said that the government would have to re-set its priorities to overcome the internal and external challenges that are causing undue damage to the economic activities in this resource-rich country.

He said that at a time the global trade is poised for faster than expected recovery in with an upward growth rate to 13.5 per cent and climbing out of painful economic recession by putting people back to work, the situation in Pakistan was likely to be the other way round.

The LCCI president said that the government would have to focus on law and order situation to encourage both the local and foreign investors who had already shelved their plans to make new investments.

“How the government would be able to create new job opportunities and how it would meet the revenue targets set for the year 2012-13 if the FDI and the local investment would be negligible because of bad law and order situation.”

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854

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