KARACHI - All Karachi Tajir Ittehad President Attique Mir has said that during the tenure of last government, more than 150 traders were killed due to non-payment of extortion money while the traders paid over Rs100 billion on account of extortion money.

Unjustified tax policies of the previous government break the tax net and more than 70 percent tax payers forced to escape from tax net. He said this while addressing the traders meeting here on Wednesday. 

Unqualified lawmakers pushed the country 50 years back and they did not prove their progress during the tenure. He said that decline of trade activity in the financial hub of the country is the main reason of industrial decline in the country.

He said the in last five years trading activity reduced to 30 to 40 percent while the trading activity of the city faced loss of trillion of rupees which was around over Rs1500 billion.   

He said the corrupt practices of previous government would badly affect the future and as result all the segments of the society faced price hike and budgetary losses.

Attique said traders celebrate the last day of government as “Youm-e-Nijaat” and they never think about that type of government next time even in their dreams. 

He said that capital flight was continued and the investors had serious concerns to save their investments.

KESC OFFICIAL KILLED: A senior officer of Karachi Electric Supply Company was killed on Tuesday night in a car blast in North Nazimabad area of the city.

According to the police, KESC’s Deputy General Manager Farhan Khalil was killed in a blast in his car near Landi Kotal Roundabout in North Nazimabad. A pedestrian, identified as Umer, was also injured in the incident. KESC officer’s body was shifted to Abbasi Shaheed Hospital for medico-legal formalities.