Karachi, Sindh's economic activities face estimated Rs 4.5bn loss

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KARACHI: The economic activities in Karachi and cities in interior Sindh remained shut down on Monday to mourn the killing of Abbas Town bomb blasts.

It took its toll on the economic activities of the economical hub of the country as most of the business activities and transport of the city remained suspended, causing a loss of more than Rs 3.5 billion. In other cities of Sindh also the economic activities remained suspended triggering a loss of more than Rs 1 billion, taking the loss of the province to more than Rs 4.5 billion, traders and businessmen said.

Karachi wore a deserted look while industrial activities of more than 99 percent of industrial units in five industrial estates remained partially suspended besides trading as well as port activities came to a standstill.

Apart from Karachi, economic activities also remained suspended in Hyderabad, Sukkur, Mirpurkhas, Khairpur, Shikarpur, Tando Muhammad Khan, Badin, Nawabshah, Shikarpur, Naushero Feroze and other parts of Sindh.

Hyderabad, Mirpurkhas, Kotri, Nawabshah and Sukkur as an industrial centers also in total bore an estimated loss of more than Rs 1 billion, industrial and traders bodies of these cities said.

Besides the government suffered a revenue loss of more than Rs 1 billion under the head of different taxes in a single day, tax experts said.

The port activity remained shut due to the closure of loading and unloading at the Karachi Port Trust.

More than 750 containers for export and 275 containers of imported commodities could not be handled at Karachi Port and Bin Qasim Port.

The city's streets and roads portrayed a deserted look as public and private transports were off the roads.

The Karachi Chamber of Commerce and Industry, SITE Association, New Karachi Industrial Area, Korangi Association of Trade and Industry, Federal B Area of Trade and Industry and All Karachi Traders Ittehad's members maintained the fallout of all this happenings would have far-reaching implications for the trade and industry all over the country.

The main business centres and markets in major cities of Sindh including Karachi remained closed besides fuel filling stations also observed closure.

End.