Bad Law and order situation in Karachi

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enewspaper.com.pk

enewspaper.com.pk
enewspaper.com.pk

KARACHI: Frustrated with bad law and order situation in Karachi, commercial hub of the country, the local trade bodies are now motivating the entrepreneurs for capital outflow and setting up businesses in the United Arab Emirates (UAE).

In this connection, the largest trade body of the country the Karachi Chamber of Commerce and Industry (KCCI) is organizing a seminar in collaboration with Ras-Al-Khaimah Investment Authority on Saturday.
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It is pertinent to mention here that a large capital outflow had already witnessed in the past and many business entities and individuals take out their stakes to other regional economies in the name of expansion.

The law and order situation in Karachi has irked the business community as incidents of target killing, extortion and kidnapping for ransom paralyzed all the activities.
The Karachi chamber, representative of all small associations and market alliances, has put its efforts to improve the law and order situation by sharing the situation with federal interior minister, governor and chief minister of Sindh but all in vain.
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The chamber on several occasions had called that political involvement in the criminal activities should be checked and police and other law enforcement agencies should be made unbiased for taking action in transparent way.

The latest move of the chamber is, however, surprising because the leaders of the trade body always preferred to do business in their home country.
It is interesting to note that Haroon Agar, president, Karachi Chamber had already gone Dubai for obvious reasons.
The USE based Ras Al Khaimah Investment Authority (RAKIA), an apex body of the Government of Ras Al Khaimah (RAK) in the UAE is a ‘ONE STOP SHOP’ for all investor needs.
RAKIA provides the required licenses for company formation, Free Zone/ Non-Free Zones land for industrial activities, warehouse, office space, labor accommodations, investor and employees visa, all types of approvals, permits etc., said a statement released by Karachi Chamber.
The authority is also providing offshore license (for opening bank account in UAE, asset protection and tax optimization, confidentiality).
Many regional and international companies are setting up or expanding their business operations in Ras Al Khaimah which offers plenty of opportunities for Low Cost Production/Distribution in addition to the trading activities with major markets in the UAE, Middle East, Africa and Europe, the statement further said.