Karachi is the golden sparrow for Pakistan as the country’s economy relies on this city. But industries in Karachi are in a serious crisis and are facing a great deal of problems, partly due to expensive electricity and gas. The overinflated prices have had negative effects on the country’s GDP.
Heavy taxes are slowly devouring our industries. The textile industry, which used to cover around 68 percent of Pakistan’s exports, is now contributing only 33 percent to the country’s exports. This is reducing Pakistan’s annual income significantly. In order to improve the state of our industries, the government needs to introduce such tax reforms that will not create hurdle for industries.
Syed Muhammad Arsalan Ali (Karachi)
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