KARACHI - Traders of the metropolis have struck a deal with extortionists to pay them a monthly fee.

According to media reports, traders have agreed to pay Rs500-1,000 monthly to extortionists. The decision comes after several traders expressed disappointment on police failure.

All Karachi Traders Chairman Ittehad Atiq Mir said the police had made it clear they had no orders to arrest extortionists. “Despite the presence of police, extortionists were not deterred.”

In October, CCPO Iqbal had claimed that distribution of extortion slips had been decreased in the City. Several traders have left Karachi claiming they had to pay more in extortion than in taxes.