Patron in Chief of Korangi Association of Trade & Industry (KATI) S. M. Muneer, President Sheikh Umer Rehan, Senior Vice President Ikram Rajput and Vice President Syed Wajid Hussain condemned historic hike of petroleum prices and termed this decision of federal government as set back to industry and common people.
S. M Muneer noted that common people never get the benefits of oil prices reduction made earlier this month but increase in the price would prove a “price hike bomb” for them. He mentioned that industry already suffering due to higher cost of production and this decision would add on the burden up to unbearable level.
Sheikh Umer Rehan said that during the pandemic relief initiatives were expected from the government but it went otherwise. He said that the new wave of price hikes of commodities will make the current situation worse and government has no capacity to cop up the fall back of this decision. He urged that to provide relief to countrymen government should reduce taxes as levy on petroleum products.
About KATI :
Korangi Industrial Area is one of the largest industrial estate of Pakistan.
Established in mid 60s and made operational in 1970. It is spread over an area of 8500 acres. According to a rough estimate more than 4500 industrial, commercial, and service concerns operate here providing employment to roughly two-three lac workers. Industries of Large, Medium and Small scale contribute revenue of Rs. 270 million on daily basis.
Most of the units established in KIA have numerous international certifications. Units representing the most important sectors of national economy are housed here. To name a few, Textiles, Jute, Wool, Leather, Pharmaceuticals, Cosmetics, Sanitary, Chemicals, Engineering, Rubber Products, Paint, Oil Refineries, Food and Automobiles Industry. 40% of the Pakistan’s Leather exports are routed from KIA.
Similarly there are 372 textiles mills operative here contributing in shape of 7% of the total textiles exports from Pakistan. A huge 78% of the crude oil used all over Pakistan is refined in the two refiners of KIA. Similarly, there are 42 fully operational flour mills located in KIA.
KIA is also emerging as the new financial hub of Karachi by having 20 fully operational branches of all major and minor Banks including numerous offices of different insurance companies.
The pace at which new industries are being set-up in KIA is unmatched by any other industrial estate of Sindh.
Through this website a visitor can search for any industrial concern either by company name or industrial sector it belongs to given the company/industrial concern is a member of Korangi Association of Trade & Industry (KATI).
