KARACHI, Aug 18: Industrial activities in city’s main industrial areas remained suspended on Thursday on account of local bodies’ election. Industrialists said that most of the units (75-95 per cent) were closed in various industrial areas in the city. They said that businessmen were waiting for the holiday notification from the provincial industry ministry and labour department till Wednesday but the formal notification was issued very late.

Further, the closure of banks and financial institutions that was announced earlier by the State Bank, would bring economic activity to a standstill anyway, therefore, industrialists and exporters felt that it was not feasible to open industries and call staffers and labour on overtime.

All the leading retail and wholesale markets of the city in almost all the areas also remained closed for the entire day. Hence, supplies from the industries to distributors and local markets and lifting of raw materials by the industrialists from the market also completely remained suspended.

“There was hardly any work on Thursday. Over 75 per cent of industries in SITE industrial area remained inactive. Even SITE Association office was closed,” chairman SITE Association of Industries, Dr Mirza Ikhtiar Baig said.

He said that almost 80 per cent of production work in the SITE area came to a grinding halt because of the holiday.

“This is not good. The authorities should have avoided declaring August 18 as a holiday. Industries and business activities should run in any circumstances,” he said adding that hardly any country in the West declares a holiday on the eve of election.

“Closure of industries in Karachi causes over a billion rupees loss in a day in terms of taxes and duties to the national kitty,” he said adding. The exact figure of loss, however, could not be ascertained.

SITE area has over 2,500 industries in which over 550,000 persons earn their livelihood. Baig said that majority of workers and labourers in SITE belong to Punjab province who live in colonies and they are not voters.

The chairman F.B. Area Association of Trade and Industry, Rehan Zeeshan said that 95 per cent of industries out of 2,200 units in the areas had remained closed on Thursday.

Some export-oriented industries had operated as they had to execute their export orders while industries, whose products are destined for local markets, remained completely shut.

The chairman and ex-chairman of North Karachi Association of Trade and Industry, Syed Azim Ali and Sadiq Mohammad said that 75 per cent of industries had kept their units closed while only export-oriented industries, that had some orders in hand and shipments to be made, carried out their business.

Azim said that till night of Wednesday, it was not clear whether Thursday had been declared as a holiday or it was a regular working day. The labour department of industries ministry had intimated very late to the industries about the holiday.

Former chairman Korangi Association of Trade and Industry (KATI), Mian Zahid Hussain said that majority of industries remained closed on Thursday due to holiday.