Industrialists demand action to halt closures

Karachi have urgently called on the government to develop a sustainable and pragmatic policy to halt the immediate closures of factories across all seven industrial zones of the port city. They are striving to stem the rising tide of Small and Medium Enterprises (SMEs) and other units already struggling, which are being forced to shut down due to increasing energy tariffs. This situation has led to job losses among poor workers, contributing to higher crime rates. These struggling units have severely hampered industrial growth in the port city and across the country, deteriorating living standards for workers and causing an increase in street crimes and armed robberies, particularly in Karachi, which is the economic hub of the nation. The high cost of doing business has discouraged both industrialists and investors, who are fighting to prevent the closure of thousands of sick units and SMEs that form the backbone of any economy. Large manufacturing units have had to reduce shifts in their factories and lay off workers.