950823

Karim urges

concerted

peace effort

RECORDER REPORT

KARACHI: Yaqub Karim, chairman, Site Association of Industry, thoroughly dejected over the Karachi situation has made an earnest appeal to all political forces, including ruling parties and the opposition, to find a solution for restoring peace in the best interest of the country, for the nation, and for the poor who are finding it hard to survive without their daily wages earning.

Commenting on the overall economic situation of the city he said that the liquidity position of trade and industry was gradually drying up. The markup, demurrage, fixed electricity charges, penal interest being charged by the banks after expiry of 30 days of guarantee and penalty surcharge on bonded goods have a backbreaking effect on the industry which is far more damaging to the economic stability than the floods.

He warned if corrective measures were not immediately taken for Karachi, the implications will disartrous. As a matter of fact, Karachi deserves a relief package like life saving drug, he remarked.