We are being forced to shut down industries: President Karachi Chamber

President of Karachi Chamber Iftikhar Ahmad Sheikh says that we do not want to close the industry, but we are being forced to do so.

Iftikhar Ahmad Sheikh has said that policy decisions in the world are settled through negotiations, we also want matters to be settled through negotiations.

He said that the price of gas has lost competitiveness in the region, we are presenting our case democratically, the rulers should sit with us and solve the problem.

Speaking in this regard, the patron-general of Pakistan Hosiery Manufacturers and Exporters Association Javed Balwani said that IMF talks about not giving subsidy, why does IMF not talk about cross subsidy? 22% profit is included in the price of Ogra. Officials of Economic Coordination Committee meet us.

Javed Balwani also said that he will announce the strike in the next press conference.

On the other hand, the North Karachi Association of Trade and Industry has protested against the rising gas prices.

Faisal Mueez, President of North Karachi Association of Trade and Industry (NKATI), has said that today’s protest is a continuation of the press conference held at the Karachi Chamber, gas prices have stopped 40 to 50 percent of industrial production.

Faisal Moeez also said that there are threats of mass unemployment, there is a conspiracy to shut down the industry systematically, the government should talk to the entrepreneurs and take them into confidence.