Poor law and order: investment declines 60 percent in Karachi: APAT

All Pakistan Anjuman-e-Tajiran (APAT) on Tuesday said that around 60 percent decline has taken place in the number of traders from different cities of the country, intending to invest in businesses in Karachi because of poor law and order.
"Extortion menace, target killings, abduction of traders, and other crimes in the metropolis caused a virtual collapse to the growth of businesses in the country's economic hub," said APAT President, Khalid Pervaiz during a press conference at Karachi Press Club.
A delegation of APAT headed by President Khalid Pervaiz, General Secretary Abdul Razzaq Babbar and Deputy Secretary Aga Abdul Qayoom is on visit to Karachi to express solidarity with the businessmen community suffering from poor law and order and government's inaction against outlaws.
Khalid Pervaiz said the traders' community of the country was deeply concerned over the growing law and order situation in Karachi, saying the APAT members from all four provinces had come to the city to show their support to the "hapless" businessmen community in crisis.
He said APAT would give a countrywide call to demonstrate protest against the insecurity to the Karachi's traders. Showing worries, he said, "traders from other provinces are now frightened to invest their capital in Karachi because of the growing unrest".
APAT President said without making Karachi a peaceful city for business and investment the country could not grow.
Raising fears, he said manufacturing in Punjab had badly been scaled down due to electricity load shedding, while Karachi and Balochistan were "burring" from unrest, adding that countrywide efforts should be done to bring the country back to peace and prosperity.
He pointed out that the number of investing traders from other parts of the country had declined 60 percent to invest their capital in the city's businesses.
He said the country's economic growth was largely indebted to the stability and peace in Karachi. He vowed to support the Karachi's traders in the hour of troubles and would leave no stones unturned to raise voice and make efforts for their rights and security.
On the occasion, All Karachi Tahir Ittehad Chairman Muhammad Atiq Mir told the newsmen that fall in trade activities in Karachi had triggered a countrywide slump to the businesses.
"Trade in Karachi has reached to a brink of virtual collapse," he said, adding that businessmen community should be united to fight for the stability of the city with a view to help peace prevails and economy grow.