KCCI – AsiaNet-Pakistan

March 15, 2023

Russia, Pakistan cooperation to develop rapidly despite sanctions: CG

Karachi, March 15, 2023 (PPI-OT): Consul General of the Russian Federation Andrey V. Fedorov has said that despite sanctions on Russia by the western countries, the cooperation between Russia and Pakistan will develop rapidly as there were a lot of unexplored business opportunities in Russia Pakistan bilateral economic cooperation which should definitely be developed.

Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), he hoped that that the current high level of bilateral ties between the two friendly countries will be sustained and the true bilateral potential will also be realized. President KCCI Mohammed Tariq Yusuf, Vice President Harris Agar, Chairman of Diplomatic Missions and Embassies Liaison Subcommittee Zia ul Arfeen and KCCI Managing Committee Members were present on the occasion.

Highlighting numerous areas of cooperation between Russia and Pakistan, he said that although bilateral trade was mainly concentrated on commodities but there was a huge potential in other sectors as well particularly the energy sector. “Furthermore, Pakistan produces leather goods and sports equipment of very high quality and has huge potential in information technology sector in addition to being a major player in the pharmaceutical production and also surgical equipment which are the best in the world.”

Expressing Russia keenness to develop trade and economic cooperation with Pakistan, he said that 2023 was the year which marks 75 years of diplomatic relations between Russia and Pakistan and during all these years, there were ups and downs but recently the bilateral ties have strengthened. “In 2022, significant boost of 38.6 percent was witnessed in Russia’s exports to Pakistan as compared to 2021.”

Referring to recent talks between the foreign ministers of the two countries, he said that during these talks, the foreign ministers expressed willingness to enhance cooperation in a wide range of spheres including energy sector, fight against terrorists, trade and economic partnership, humanitarian, cultural and educational cooperation.

Keeping in view series of government-to-government interactions at the highest level, he was fairly optimistic about enhanced bilateral cooperation. “When friends meet at the negotiation table, lot of agreements can be reached.

The only thing needed is wishes and wills from both sides which have been witnessed during meetings between Prime Ministers, Foreign Ministers and Defence Ministers of the two countries.”

Earlier, President KCCI Mohammed Tariq Yusuf, while warmly welcoming the Russian CG, stated that Pakistan and Russia have experienced many ups and downs in their bilateral relations, but mutual bilateral cooperation has strengthened economic relations, marked by enhanced govt.

level talks between the two countries. “Despite friendly relations, the volume of trade is much below its potential as during the seven months of current fiscal year, Pakistan’s exports to Russia dropped by 45 percent to around $45 million compared to $82.34 million last year, which is a serious concern.”

He noted that Pakistan was close to a final agreement with Russia for the import of discounted crude oil and petroleum products. The 40-50 percent discounted energy deal if settled, could reshape Pak-Russia trade and bilateral relationship to a greater extent, allowing both countries to structure their ties more effectively. This agreement was very critical for Pakistan’s economic growth, which could resolve part of energy needs and create breathing space.

He stressed that Russian investors should enhance trade and investment cooperation in numerous sectors including the energy sector, construction and industrial machinery, mines, metallurgy, railways engineering, pharmaceutical products, fertilizers and chemicals etc.

“The visa regimes should be relaxed and made accessible for travelling for improving trade, economic
integration and people to people contact between the two countries. Russian investors must also explore business opportunities in CPEC through investments and joint ventures in 10 special economic zones offering huge incentives for foreign and domestic investors”, he added.

For more information, contact:
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Karachi-74000
Phone: +92-21-99218001-09
Fax: +92-21-99218040
Email: info@kcci.com.pk, secretary@kcci.com.pk
Website: www.kcci.com.pk

The post Russia, Pakistan cooperation to develop rapidly despite sanctions: CG appeared first on Business News Pakistan.

March 14, 2023

Ashfaq Tola for unity, political stability to pull economy out of crises

Karachi, March 14, 2023 (PPI-OT): State Minister and Chairman of Reforms and Resource Mobilization Commission (RRMC)Ashfaq Tola has said that Pakistan had been into serious economic crises in 1998, 2008 and 2013 but came out successfully due to strong unity exhibited by everyone along with political stability which was the only way forward to pull the country out of current economic crises.

“The current crises being faced by the country were unique as these were a double-edged sword surfacing due to our own internal weaknesses”, Chairman RRMC added while speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI).

Chairman Businessmen Group Zubair Motiwala, Vice Chairmen BMG Anjum Nisar and Jawed Bilwani,
President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Haris Agar, Former Presidents and KCCI Managing Committee Members also attended the meeting.

“Bits and pieces don’t win the game and political stability is the name of the game so we all have to act together to deal with the situation”, said Ashfaq Tola, adding that the economic stability is always tied up with political stability.

He was of the view that by and large, the situation was not so cozy with the IMF which was the basic reason why power subsidy given to export industries and other subsidies have been withdrawn in addition to the announcement of mini budget and other harsh measures.

“The economy flourishes only in those countries where tough decisions are taken as easy decisions never pave way for economic prosperity” he said, adding that rupee devaluation and man-made crises caused due to Russia-Ukraine war have also contributed to a very large extent to further worsen the situation beyond anyone’s thinking.

Referring to concerns expressed over delays in release of Sales Tax refunds, he said that it was a genuine issue which, he would personally discuss with Finance Minister Ishaq Dar and would keep on striving until it was resolved. He said that Ishaq Dar was a public figure but as he has remained extensively engaged with the IMF, he was unable to meet representatives of business community. “Finance Minister would certainly hold interactions with KCCI as soon as he is done with his current engagements.”

Commenting on raw material imports issue, he said that the issues being faced by the importers of raw material would ‘very soon’ lead towards betterment.

“I am also of the view that the increase in gas tariff should not be applicable from 1st January 2023 and I have convened your message to relevant authorities”, he added while fully supporting KCCI’s viewpoint over the unconstitutional move to retrospectively increase gas tariff.

Speaking on the occasion, Chairman Businessmen Group Zubair Motiwala pointed out that although the government requires foreign exchange which can only be achieved by improving the exports and promoting import substitution but unfortunately this was not happening at all as the government, instead of facilitating, has stopped release of refunds, blocked raw material imports, withdrawn subsidy to five export oriented sectors that has raised electricity tariff by 70 percent, augmented interest rates to 20 percent, escalated gas tariff retrospectively by 35 percent which was purely against the Constitution of Pakistan.

“In this scenario, how is it possible to enhance the exports and set up import-substitution industries”, he asked, adding that the policies being pursued would not improve but surely reduce the exports.

To minimize the impact of inflation being suffered by the public, he requested the government to allow imports of raw materials, plastics, pharmaceutical products, food and its allied items etc. without any hindrances.

“Secondly, the government must also immediately start releasing Sales Tax refunds which, if further delayed, would prove disastrous for Pakistan”, he stressed, adding that connection between the Ministry of Finance and the business community has almost finished as they were not being updated about the state of affairs and were not being made part of the dialogues which have led to triggering a lot of rumors amongst the members of business and industrial community. “Dialogues between the Finance Division and the business community must continue in all types of circumstances.”

President KCCI Mohammed Tariq Yousuf, while welcoming Ashfaq Tola, stressed the need to mobilize resources in a productive direction and also bring maximum people into the tax net without further overburdening the existing taxpayers.

“Frequent changes in taxes and tariffs slow down the business and industrial activities, hence, long term policies for a period at least two years have to be implemented to put businesses in a better position wherein they were able to evaluate the cost of doing business and the export cost.

The post Ashfaq Tola for unity, political stability to pull economy out of crises appeared first on Business News Pakistan.

March 10, 2023

Bangladeshi Envoy asks KCCI to send business delegation to 35th largest economy of the world

Karachi, March 10, 2023 (PPI-OT): Deputy High Commissioner of Bangladesh S. M. Mahbubul Alam, while stressing the need to enhance trade and investment cooperation, asked the Karachi Chamber to send a business delegation to Bangladesh to explore trade and investment opportunities in the 35th largest economy of the world which offers all the required facilities and infrastructure along with special incentives to foreign investors.

Exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), Bangladeshi envoy informed that 100 Special Economic Zones (SEZs) were being established all over Bangladesh with the aim of promoting investment and accelerating economic growth through increased and diversified industrialization, employment, production and exports.

“We have a lot of potential to work together so we must make collective efforts for the economic prosperity of the two brotherly countries”, he added. President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Chairman Diplomatic Missions and Embassies Liaison Subcommittee Zia ul Afreen and KCCI Managing Committee Members were also present on the occasion.

Bangladeshi Deputy HC further stated that Bangladesh and Pakistan have been enjoying excellent economic relations which have been expanded with the passage of time but there were challenges which have to be efficiently tackled through collective efforts.

“When Bangladesh came to existence, it had zero foreign reserves and most of the food items were being imported but now the country holds impressive foreign reserves of US$48 billion and it was not importing any food items as all the food stuff for the population was being produced locally within the country and we have become self-sufficient”, he said, adding that under vision 2041, Bangladesh intends to become a developed and smart nation.

Mahbubul Alam informed that foreign investors from Japan, China, India and South Korea have already established production units in Bangladesh, hence, Pakistani business community must also come forward to benefit from the situation.

“Bangladesh is a country which is, particularly, focused on quick troubleshooting of any issue being faced by foreign investors and most of such issues are resolved in just a single sitting which is very encouraging for foreign investors. We always welcome our foreign friends for improvement of economy and creation of maximum number of employment opportunities.”

Commenting on concerns expressed over delays in issuance of visas, he said that they try their best to issue visas to the members of business community at the earliest, however, delays faced by any individual were purely due to procedures which have to be adhered. “Anyone desiring to do business with Bangladesh is issued business visa on top priority.”

He said that Bangladesh was particularly focused on improving its literacy rate and it was undoubtedly a major achievement that the enrolment at primary schools now stands at 100 percent. “We provide free books and scholarships to millions of poor people so that everyone has access to education”, he informed, adding that in 1971, only six universities existed but now, there were 108 universities and 120 medical colleges in Bangladesh.

Earlier, President KCCI Mohammed Tariq Yousuf, while welcoming the Bangladeshi Deputy High Commissioner, stated that in spite of enormous trade potential between the two countries, the trade volume was below its potential as during six months of current fiscal year, Pakistan’s exports to Bangladesh were stagnant at around $480 million as compared to $483 million last year.

“The negotiations on Pak-Bangladesh Free Trade Agreement (FTA) launched in 2003, have not concluded even after 19 years which require special attention from both sides as this FTA would certainly give boost to the existing trade volume between the two brotherly countries.”

He further stressed that the tariff reductions and elimination of non-tariff barriers (NTBs) should be pursued gradually to put forward the negotiations amicably towards the logical end for the mutual economic benefit of both countries.

“To enhance business activities and economic relationships, visa regime should be relaxed for travelling to foster cooperation, trade and people-to-people contact between the two countries while the possibility of a direct shipping line also needs to be explored to promote bilateral trade and both countries must improve air and maritime linkages for boosting trade and strengthening economic development.

Tariq Yousuf was of the view that the Bangladeshi businessmen can also look into the possibility of undertaking joint ventures in various potential sectors, such as agriculture, food processing, textile, real estate, cement, energy and IT sectors etc.

“Bangladesh should also look into Pakistan’s Blue economy, having tremendous potential at the coastal belt from Karachi to Gwadar, which offers huge opportunities for ports and harbours, marine transportation, fisheries, extraction of hydrocarbons, seabed minerals, value-added port logistics, shipbuilding, fish processing and eco-tourism.

The post Bangladeshi Envoy asks KCCI to send business delegation to 35th largest economy of the world appeared first on Business News Pakistan.

March 6, 2023

18th My Karachi Exhibition concludes with presentation of Rs5 million cheque for earthquake affectees in Turkiye

Karachi, March 06, 2023 (PPI-OT): The 18th My Karachi – Oasis of Harmony International Exhibition concluded successfully here at the Expo Center with presentation of cheque worth Rs5 million to support the affectees of devastating earthquake in Turkiye, which was presented by the leadership of Businessmen Group and Karachi Chamber to Consul General of Turkiye Cemal Sangu at the Closing Ceremony of the exhibition.

Governor Sindh Mohammad Kamran Khan Tessori, Chairman Businessmen Group Zubair Motiwala, Vice Chairmen BMG Haroon Farooki and Jawed Bilwani, General Secretary BMG AQ Khalil, President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Haris Agar, Chairman Special Committee for My Karachi Exhibition Muhammad Idrees, Senior Vice President FPCCI Suleman Chawla, Former President FPCCI Nasir Hayat Magoon and KCCI Managing Committee Members along with Consul Generals of Thailand, Indonesia, Sri Lanka, Turkiye and Presidents/ Representatives of Industrial Town Associations were also present on the occasion.

Speaking on the occasion, Governor Sindh Kamran Khan Tessori that despite extremely unfavourable conditions, it was really heartening to see immense participation of 300 exhibitors at My Karachi Exhibition including foreign participation from friendly countries including Turkiye, Indonesia, Sri Lanka, Thailand and Vietnam.

Referring to concerns expressed by Chairman BMG over numerous issues, he said that a clear direction has to be collectively identified in consultation with the business and industrial to resolve issues being suffered by the business community and the economy. “Our business and industrial community has the ability to arrive at the right destination but they have to be given shown the right direction leading to progress and prosperity.”

He was of the view that Pakistan was blessed with abundant resources and talent whereas everyone has been exhibiting complete determination so our country would be able to come out of crises and get back on the path to progress and prosperity. Appreciating KCCI’s support for the earthquake affectees of Turkiye, he said that it was highly encouraging that the business and industrial community of Karachi always takes lead by responding to natural calamities which not only strikes our country but any other country in any part of the world.

Turkish Consul General Cemal Sangu, while acknowledging KCCI’s contribution for minimizing the hardships being faced by Turkish people, said that millions of people inhabiting in eleven cities and thousands of small towns and villages in Turkiye were affected by the devastating earthquake. “We are very resilient and determined so with the help of your support, solidarity and prayers, we will overcome these difficult times”, he added.

Chairman BMG Zubair Motiwala, in his remarks, said, “Our hearts bleed with people of Turkiye who suffered a massive earthquake. Although the Pakistani government has established relief fund for the affectees of Turkiye and Syria while several other Pakistani organizations were also contributing generously to this noble cause, hence, we, the business community, also felt that it was our responsibility to participate in this noble cause so we are making a meager contribution to minimize the adversities of our brothers and sisters in Turkiye.”

Referring to economic crises being faced the country, he was fairly optimistic that Pakistan would certainly come out of the ongoing crises as the country has been through similar situation in 2008 and 2013 when the foreign reserves were down and Pakistan was facing severe economic challenges but all those challenges were efficiently tackled and Pakistan was able to touch new heights in terms of economic progress and prosperity.

He said that the presence of FPCCI and all Trade Association was a clear testimony that the entire business community of Karachi was on one page in dealing with numerous issues particularly the unnecessary liabilities being created including blocking the containers which exorbitantly raised demurrage/ detention charges and retrospectively raising gas tariff. “How can we afford such a high gas tariff being charged retrospectively for a period of one-and-a-half month”, he asked and requested the Governor to take up these matters by summoning a meeting at his Office as the cost of doing business and manufacturing has already gone up but these issues have further unnecessarily aggravated the cost of finished goods.

Commenting on My Karachi Exhibition, Zubair Motiwala said that around 300 exhibitors participated in this year’s My Karachi Exhibition in which the biggest foreign participation was from Sri Lanka, followed by Indonesia, Philippines, Thailand and Vietnam while some of the leading local manufacturers were also present at My Karachi Expo. “As compared to last year’s public turnover of more than 600,000, this year, around 4,50,000 visitors attended the exhibition due to erosion of buying power. The estimated sales of somewhere in between Rs400 to Rs500 million has been done by the exhibitors which still is a good number. The purpose is purely to facilitate the public and make shopping easier and affordable for them before Ramadan.”

While welcoming the distinguished guests, President KCCI Mohammed Tariq Yousuf pointed out that the exhibition, unfortunately, was unable to perform at full throttle due to ongoing severe economic crises and the inflation which discouraged many companies to set up stalls and also the public to carrying out their shopping. “I hope that next year when 19th My Karachi will be staged, the inflation would come down and the purchasing power of the public would also improve.”

He was of the opinion that the economic crises have worsened from bad to worst so everyone should think and understand that the way everything was happening; it was not in the interest of our country.

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March 6, 2023

Second Day of 18th My Karachi Exhibition

Karachi, March 06, 2023 (PPI-OT): Chief Secretary Sindh Sohail Rajput, during his visit to My Karachi Exhibition here on Saturday, extended full support and cooperation to Karachi Chamber for all such events which help in promoting the soft image Karachi were focused on improving Karachi’s image. Thousands of people with their families continued to pour into the Expo Center on 2nd day of 18th My Karachi Exhibition underway at Expo Center Karachi to witness the products and services by more than 300 exhibitors being offered at discounted rates.

Visitors, diplomats and members of foreign delegation highly appreciated the efforts being made by the entire team of Karachi Chamber and the exhibitors towards promoting the positive image of Karachi by holding such a glittering event in a vivid manner. Chairman Businessmen Group and Former President KCCI Zubair Motiwala, while expressing satisfaction over the arrangements made and the response received from the public, said that thanks to the efforts made by all three office bearers and Managing Committee Members, the exhibition has been staged in an ideal manner despite several odds.

President KCCI Mohammed Tariq Yousuf, while commenting on the so far progress of My Karachi Exhibition, stated that overwhelming response from people belonging to all walks of life has been received who applauded KCCI’s efforts towards organizing this lively event which has provided Karachiites an excellent opportunity to spend some good time with their families and shop in a safe and secure atmosphere. He said that the plant of My Karachi – Oasis of Harmony, which was garnered by Late Siraj Kassam Teli in 2004, has grown into a huge tree and has succeeded in attaining the objective of promoting the positive image of Karachi which can be gauged from immense participation of diplomats and Karachiites at the exhibition.

He also appreciated the efforts made by officers of Law Enforcing Agencies particularly Pakistan Rangers and Sindh Police who tried their best to ensure fool-proof security at the exhibition. KCCI Office Bearers and Managing Committee members remained fully engaged on second day of My Karachi Exhibition by closely supervising activities at all halls of the Expo Center while stringent security measures were also taken by deploying police, rangers and private security guards with a view to ensure that no unpleasant incident occurs during the event. Special pavilion for Small Traders and Women Entrepreneurs along with other recreational facilities including the Food Court, Birds and Pet Show, Fireworks and a musical night show outside the Expo Center were also welcomed by the visiting families.

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July 20, 2020

KCCI blames rulers for suffering of Karachiites

Karachi, July 20, 2020 (PPI-OT): President Karachi Chamber of Commerce and Industry (KCCI) Agha Shahab Ahmed Khan, while expressing strong resentment over the miseries and hardships suffered by Karachiites after Friday evening’s torrential rains, criticized the Federal and Sindh government for their sheer failure to provide any relief to Karachiites who have always been the worst-hit victims of the heavy rains, natural calamities, epidemics, law and order incidents, accidents and other emergency situations.

“Karachi, despite being the largest city contributing around 70 percent and 95 percent revenue to the federal and provincial exchequers respectively, has been frequently facing a lot of damages every year during the monsoon season yet not a single step has ever been taken neither by the federal nor by provincial government to minimize the hardships except for paying just lip service that has turned the living in Karachi into a terrible nightmare”, he said, adding that Karachi has been left alone mercilessly as no attention is being paid to some of its most serious and pressing infrastructure related issues that have given a taste of hell to Karachiites.

Agha Shahab particularly slammed all the politicians from Pakistan People’s Party (PPP), which remained in power since 2008 and also the Muttahida Qaumi Movement (MQM) which has always been a strong ally and part of the governments from time to time since 1999 throughout Musharraf’s regime, PPP government from 2008, PML-N government in 2013 and now the PTI government since 2018.

“PPP has been in power since last 13 years, of which they remained in command at the federal and Sindh governments during 2008-13 while the MQM has been enjoying various ministries since last 21 years but none of them bothered to do anything and they largely ignored the issues of Karachi which has been plunged into deep crises during the last two decades yet this great city survives somehow only because of its potential and the steadfastness of the business and industrial community.

“Thank you very much Peoples Party and MQM for doing such a fine job for Karachi”, he criticized and urged all political parties to stop politics over the economic issues and let the business community focus on their work instead of staying tangled in dealing with civic, utilities and infrastructure issues all the time.

He pointed out that it was really worrisome to see that the city’s infrastructure has deteriorated to such an extent that it is not even capable of sustaining the rainfall that lasted for just one-and-a-half hour but the miseries for Karachiites continued throughout Friday night as the public initially remained stranded for many hours on the streets due to severe traffic jams caused by inundated roads which was followed by the blackout in many areas throughout the night because of KE’s incompetence.

He said, “The business and industrial community of Karachi has been paying billions of rupees in shape of taxes, duties, levies etc. to the federal and provincial governments but we are not receiving anything in return. Globally, taxes are paid so that these funds could be utilized on the development of infrastructure and provision of amenities but unfortunately, it has never been the priority of any government as far as Karachi is concerned which continues to receive merciless treatment and remains deprived.”

He was of the opinion that Karachi suffers badly due to lack of master plan, ineffective civil administration system and poor coordination between Karachi Metropolitan Corporation (KMC), Karachi Water and Sewerage Board (KWSB) and K-Electric in rapidly and efficiently dealing with various issues emerging after the rain. “Keeping in view the rising population and size of Karachi, there is a dire need to devise long term strategy which must cater to the city’s existing and future requirements for the next 20 years”, he stressed.

As the Monsoon season has just begun and more rainfalls have been forecasted, hence President KCCI suggested that active and well-equipped ‘Rain Emergency Centers’ in all five districts of the city should immediately be established where workers of KMC, KWSB and K-Electric must remain deployed round-the-clock to assist the public and quickly resolve rain related issues.

Furthermore, these Rain Emergency Centers should be well-equipped with necessary machinery particularly water pumping machines in order to quickly clear standstill rainwater from the streets so that smooth flow of traffic could be ensured during the ongoing Monsoon season, he said, adding that KMC, K-Electric, KWSB and other civic departments must make coordinated efforts to minimize the grievances likely being faced by the public.

President KCCI hoped that the federal and provincial governments would pay attention to the issues being faced by the financial and commercial hub of Pakistan and get them resolved on top priority which is the only way to ensure that the economic and industrial wheels of this city keep on spinning without any interruption.

June 30, 2020

LEAs advised to strengthen intelligence network to avoid untoward incidents in future

Karachi, June 30, 2020 (PPI-OT): Chairman Businessmen Group (BMG) and Former President KCCI Siraj Kassam Teli and President Karachi Chamber of Commerce and Industry (KCCI) Agha Shahab Ahmed Khan, while strongly condemning the assault at Pakistan Stock Exchange, paid glowing tribute to Private Security Guards, Policemen and Rangers for rapidly thwarting the terrorist strike, stalling them from entering the PSX building and effectively exterminating all the terrorists within minutes that saved the stock exchange from a grave incident which the entire business and industrial community highly appreciates.

In a statement issued, Chairman BMG and President KCCI stated that the business and industrial community highly admires the bravery and patriotism of security guards, police and rangers who endangered their lives to save an important institution and PSX members/ staff from being hijacked by a few terrorists. They said that security guards and policemen undoubtedly played a commendable role at the frontline while the rangers also responded swiftly to provide the required backup that led to effectively dealing with a very serious situation within a matter of minutes otherwise, if these terrorists had not faced strong resistance from the brave security guards and policemen, they would have easily entered the PSX premises and attained their filthy objectives.

All the brave security guards and policemen must receive handsome rewards as a token of appreciation for their patriotism, loyalty and dedication which would certainly encourage others to emulate while the heirs of the martyrs must also be compensated, BMG Chairman and President KCCI added while offering heartfelt condolences to the bereaved families of the martyrs.

Siraj Teli and Agha Shahab further advised that after thoroughly analyzing the PSX terrorism incident, the Law Enforcing Agencies (LEAs) must accordingly revisit their security strategies being followed to secure all the sensitive installations/ localities in the city and must also focus on further strengthening their intelligence network as it was a matter of grave concern that four heavily armed terrorists in a private car succeeded in easily reaching a sensitive locality in broad daylight without being intercepted.

Stringent security measures have to be adopted at all the sensitive localities across the city while the policemen must go through rigorous training and be groomed in such a manner that they become capable of promptly obstruct and apprehend such elements way before they reach their target which would certainly help in saving Karachi from such incidents in future, they added.

They further underscored the need to implement police reforms which must focus on thoroughly defining the administrative and operational controls while the capacity building of police department must also be prioritized and all the recruitments must strictly be done on the basis of merit and criminologists should be engaged along with use of latest technologies to analyze and investigate such incidents.

BMG Chairman and President KCCI said that ensuring fool-proof security in Karachi is a challenging task as it is the financial and industrial hub of the country with a huge population of around 22 million and it is a city that also receives substantial influx from all over the country every year due to rising urbanization hence, the federal and provincial governments will have to pay special attention and look into the possibility of enhancing allocations and ensuring availability of latest equipment to LEAs in order to save the city from terrorism.

Any terrorism strike in Karachi would send a negative message to the world about Pakistan because this city plays a significant role in the economic development of the entire country and contribute a lion’s share of more than 70 percent revenue to the national exchequer hence, the decision makers will have to act sensibly, ensure stringent security all over the city and also pay special attention to all the issues of Karachi, they added.