25% of Karachi industries shut down worsening economic crisis: Mustafa Kamal

Karachi, July 30: Senior MQM Pakistan leader Syed Mustafa Kamal has raised alarm over the economic downturn in Karachi, revealing that 25% of the city’s industries are closing down. Kamal warned that Pakistan’s economic challenges cannot be resolved by the IMF alone and stressed that Karachi must receive its due share for the nation to progress.
During a press conference, Kamal, alongside other MQM leaders, highlighted the dire state of the city’s industrial sector. He criticized the government's inability to address the crisis and argued that Karachi's deteriorating economic condition is exacerbated by high electricity bills that exceed the earnings of many businesses.
Kamal also addressed recent criticisms, defending the MQM's initiatives to empower youth through e-commerce courses and a new call center aimed at guiding citizens. He called for increased global connectivity and practical solutions rather than relying solely on government intervention.
Further, Kamal challenged allegations against MQM regarding K-Electric's management, urging those with accusations to present evidence for public scrutiny. The MQM leader also criticized the political system's inefficacy, comparing it unfavorably to past failures in Karachi's industrial sector.
Farooq Sattar, another MQM leader, condemned the current state of K-Electric, drawing parallels to historical injustices and demanding immediate resolution to the ongoing issues affecting Karachi's economy.