KARACHI, April 25: The trade and industry has urged political parties to refrain from giving strike calls as these were making a crippling effect on the economy.

The concerns of the business community were raised at their meeting with caretaker ministers and advisors in Sindh at the Federation House here on Thursday.

The businessmen are ready to convince politicians not to resort to shutdowns to assert their position, said the business leaders.

They also highlighted their complaints against load-shedding.

The trade and industry leaders urged the caretaker government to address the circular debt which was the root cause of power crisis.

There were concerns over deteriorating law and order situation in industrial areas of the city. The speakers were of the view that criminal rings are operating freely in these areas. Responding to issues raised by the business leaders, Mian Zahaid Hussain, advisor to Sindh Chief Minister on IT, said that the caretaker government initially was reluctant to give exemption to businessmen from Section 144 which allows them to carry weapons, but it has now agreed, and a notification would be issued on Friday.

About arms licences, he said, these would be issued to businessmen within 24 hours on submitting CINC, National Tax Number and permission from respective trade body to whom he/she belongs.

The power crisis can be resolved if government take a political decision for stopping line losses which come to around Rs200bn and power thefts of another Rs200bn per annum.

This way the government would be able to save Rs400bn per annum and solve circular debt issue.

Khalid Tawab, minister of industries, said that he had already put up a summary before the Sindh chief minister for release of Rs400m funds for the betterment of infrastructure in the industrial areas of SITE Association, Sukkur, Kotri and Hyderabad.

Iqbal Dawood Pakwala, minister of housing and cooperative societies, said that all industrial areas of the province need urgent improvement because all utilities, such as water and sewerage system, are in a bad shape.

S M Muneer, former president of FPCCI, said that the country was facing a deep economic crisis and even the IMF was reluctant to extend support as Pakistan team on return has informed that the Fund was insisting on rupee devaluation of up to 7pc and increase in power and gas tariffs.

The country was holding around $16bn foreign exchange reserves about five year back which have depleted to $6bn with around $7bn held by private banks.

Payments to IMF and other agencies are due and this would leave the country under deep financial crisis, with reserves just to meet only two months import bill.

Tariq Sayeed, former president of FPCCI, said that the caretaker government should make efforts to resolve issues confronting the country and the business community.