KARACHI: The national strike organized by the business community against soaring power bills and rising tax burdens led to significant trade losses on Wednesday, overshadowing claims of a major victory. Industrial activities showed varied results due to several factors.
Support for the strike was evident from industrialists’ bodies, who also called for revisions in contracts with independent power producers (IPPs) but did not commit to keeping their operations closed. The ongoing rains and disrupted transportation in Karachi also contributed to the halt in activities, with many workers unable to report for duty.
Kashif Chaudhry, President of Markazi Tanzeem-i-Tajiraan, estimated a daily trade loss of Rs500 billion due to the strike, which disrupted transactions between different business sectors. He noted that while many industrial hubs were closed, industrial associations, though supportive of the strike, did not enforce a shutdown of their units.
M Abdul Aleem, Secretary General/CEO of the Overseas Investors Chambers of Commerce and Industry, reported that the strike had minimal impact on his members’ operations, though some areas might have been affected by the rains.
Ehsan Malik, CEO of the Pakistan Business Council, stated that the strike had a limited effect on industry, primarily inconveniencing lower-income daily shoppers. He emphasized that traders’ losses from spoilage of perishable goods would be a concern, but monthly purchasing cycles would continue, reducing the likelihood of long-term impact.
Faisal Moiz Khan, President of the North Karachi Association of Trade and Industry, reported that about 70% of the 8,000 industrial units in the area were closed, with 30% of export-oriented units still operating to meet export deadlines. He estimated a production loss of Rs20 million and highlighted the negative effects on local supply chains and daily wage workers.
Syed Raza Hussain, President of the F.B. Area Association of Trade and Industry, indicated that 50-60% of the 1,800 industrial units in the area were closed, though export-oriented units continued to function. He criticized the discriminatory taxes and duties imposed on Karachi’s industries and pointed to rising electricity prices and water scarcity as major issues.
Johar Qandhari, President of the Korangi Association of Trade and Industry, reported a 30-35% reduction in production across 4,500 units due to lower worker attendance caused by poor transportation and rainfall, which also affected export shipments.
