KCCI rejects decision to move State Bank’s departments to Lahore

Karachi, October 13, 2016 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI) Shamim Ahmed Firpo, while expressing deep concerns over federal government’s decision to shift four departments of State Bank of Pakistan (SBP) from Karachi to Lahore, said that this was not a fair step for the business and industrial community and for Sindh as it will deprive Sindh and keep it on the backseat which will not be acceptable to the business and industrial community of Karachi.

In a statement issued, President KCCI said, “Instead of improving the state of affairs in Karachi and Sindh, the federal government is planning to move four departments of State Bank to Lahore, which is highly unfair as Karachi, being the financial, commercial and industrial hub of the country, contributes more than 65 percent revenue to the national exchequer whereas its literacy rate is also far better as compared to what it is in other cities across Pakistan.”

He pointed out that State Bank of Pakistan’s headquarter remained in Karachi since Pakistan’s inception and even when the capital of country was shifted to Islamabad in 60s, the SBP’s headquarter continued to operate from Karachi as the decision makers, at that point, were wise enough to realize the significance of this crucial port city.

Referring to the remarks of Manzoor Wassan who recently opposed the transfer of SBP’s departments to Lahore, Shamim Firpo said that the business and industrial community of Karachi supports Sindh government’s stance and fully rejects the transfer of SBP’s departments to Lahore.

He said that the business and industrial community of Karachi has been facing immense difficulties because of sheer negligence from the Federal government towards the issues of Karachi and such decisions would further intensify the hardships for them. “It will start from shifting four departments and result in transferring the entire SBP headquarter to Lahore, which will be a sheer injustice to the business and industrial community of Karachi”, he feared.

“How can the federal government even think of transferring four major departments of State Bank to Lahore regardless of the fact that all head offices of banks, financial institutions, multinational companies and Large Scale Manufacturing Units etc. are based in Karachi whereas the two major ports which cater to the needs to entire Pakistan are also situated in Karachi”, he asked.

President KCCI urged federal government to stop doing injustices with business and industrial community of Karachi and refrain from taking such anti-business steps which will surely prove to be detrimental and counterproductive for the economy keeping in view the enormous role and substantial contribution being made by Karachi in the overall economic development of Pakistan.

For more information, contact:
Aamir Hassan
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Karachi-74000
Phone: +92-21-99218001-09
Fax: +92-21-99218040
Email: info@kcci.com.pk, secretary@kcci.com.pk
Website: www.kcci.com.pk