KARACHI - Traders on Saturday blocked Shahrah-e-Pakistan to register their protest against rise in looting and extortion.

They demanded that police should provide them with due security and their businesses to prevent further loss. They blocked Shahrah-e-Pakistan and burnt tyres.

They demanded immediate measures to avoid further damage to national economy.

Hundreds of traders staged a protest demonstration against increasing incidents of extortion in the city. “The government indifference to the matter has encouraged the criminals to freely demand extortion and assault traders on refusal.

Traders said usually some outlaws visited the markets and handed over extortion slips to every trader, threatening them of harsh consequences if they failed to make payments.

The government had no security strategy against the powerful clan of outlaws, who were not only plundering the businesses but also threatening many innocent people.

Meanwhile, University of Karachi and Posco TJ Park Foundation inked a Memorandum of Understanding at Karachi University here the other day.

Posco TJ Park Foundation, a global steelmaker Posco-established nonprofit organization for the purpose of the company’s social contributions, is networking with 300 students from 19 universities in 10 Asian countries such as China, Vietnam, India, Mongolia and Thailand.

KU Vice-Chancellor Prof Dr Qalser and Lee, Woo-In, the executive vice president of the Posco TJ Park Foundation, signed the MoU in the special ceremony jointly organised by the Posco TJ Park Foundation and the University of Karachi. Posco Asia Fellowship was also awarded meritorious students of the University of Karachi in the ceremony.

For the first time this year, 10 undergraduate students from the University received scholarship certificates under the name of ‘Posco Asia Fellowship’, the prestigious scholarship (USD 500 per person) that is being awarded every year to outstanding universities’ students over Asian countries since 2005. Lee, Woo-In, the executive vice president of the Posco TJ Park Foundation, expressed his pleasure while awarding the Posco Asia Fellowship at the University of Karachi. Lee said, “It is our great honor and pleasure to initiate Posco Asia Fellowship this year between the University of Karachi and the Posco TJ Park Foundation established by Posco that has invested 15 million dollars equity in construction of TSML (Tuwairqi Steel Mills Limited) in Karachi and is going into commercial production within few days.” Again he added, “I believe our efforts today will be a milestone to enhance mutual understanding and co-prosperity between Pakistan and Korea.”

On this occasion, In-ki Lee, Consul General of the Republic of Korea in Karachi, appreciated the efforts of outstanding students and said, “Pakistan is a country with a population of around 180 million, rich with natural resources and loaded with dexterous manpower; enough recipe for a nation to make it to the top.” He further said that Pakistan and South Korea have a lot in common, be it socio politics or cultural aspects. The two countries have a long history and rich cultural legacy, a treasure of knowledge, experience and acumen acquired over millennia. Today Pakistan and Korea enjoy a much deeply enrooted friendly and mutually co-operative relations since more than six decade. Zaigham Adil Rizvi, Director (Projects), Tuwairqi Steel Mills Limited congratulated the students, lauded the initiative of POSCO TJ Park Foundation and appreciated the role of H.E. In-ki LEE, Consul General of the Republic of Korea in Karachi. He also cited the example of Koreans: In the early years of independence Koreans were ranked as one of the poorest nations of the world with a per capita income of 63 US dollar. Today, Korea has become the 7th largest exporter in the world with a per capita income crossing over UD$ 22,000 and Nominal GDP mounting up to more than US$ 1.5 trillion in 2011.

He urged Pakistani students to seek inspiration from Koreans and play their part in socio-economic development of the country.

Prof Dr Muhammad Qalser, Vice-Chancellor, University of Karachi also congratulated the outstanding students on their achievement and appreciated the efforts of Posco TJ Park Foundation and Tuwairqi Steel Mills.

Meanwhile, the Posco TJ Park Foundation has been rewarding individuals and organizations that have made extraordinary contributions in the categories of science, education and community development & philanthropy since 2007. Abdul Sattar Edhi, the Pakistani humanitarian who are running over 300 social welfare center and emergency medical service as well as the Edhi Foundation, non-profit organization, was also conferred the Posco TJ Park Prize in 2009 in the category of community development & philanthropy.