KARACHI: Zubair Motiwala, Chairman of the Businessmen Group (BMG), emphasized the critical role of industrialization in Pakistan’s development at an event hosted by the Korangi Association of Trade and Industry (KATI) in Karachi. He highlighted that the country cannot progress without industrial growth and urged the need for reducing production costs to compete globally.
Motiwala expressed concerns about the current economic environment, describing it as one of “de-industrialization.” He warned that restricting the export sector could further limit Pakistan’s ability to grow exports. He called for a report comparing production costs with neighboring countries to identify areas for cost reduction, aiming to meet the government’s export target of $15 billion, with $7 billion earmarked for rice exports.
KATI President Echoes Concerns
KATI President Johar Qandhari supported Motiwala’s views, stating that Karachi’s industries face discrimination despite their significant contribution to the national economy. He stressed the need for the government to address the deteriorating infrastructure and lack of investment in Karachi, which hampers the city’s industrial potential. “Pakistan cannot achieve economic stability without focusing on Karachi,” Qandhari warned.
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Business Leaders Call for Unity
Zubair Chhaya, Deputy Patron-in-Chief of BMG, praised the collaboration between KATI and BMG, which has resolved numerous business challenges. Altaf Ghaffar, Acting President of the Karachi Chamber, urged unity among the business community to tackle the growing challenges faced by Karachi’s industries.
The event, attended by key business figures, underscored the importance of joint efforts to promote industrialization and address the issues affecting Karachi’s economy.
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