40,000 factories at risk of closing in Karachi

Pakistan faces potential economic collapse as inflation jumps and widespread civil unrest could be nearing. The latest sign the South Asian country is spiraling into the abyss is rising electricity costs that threaten to close tens of thousands of businesses.

As many as 40,000 factories in Karachi, the country’s commercial capital, are being slapped with high power costs that make operating near impossible. 

Rising power costs are so severe that nine business groups in Karachi told the government that an immediate plan needs to be formulated to lower power costs or face economic disaster. 

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