Thanks Bilal 
My Brother in Law (ImranMansha - Blue RX) named some chemical in a mixture of Kerosine Oil, basically he is working on it.
Will let you know with pics (H).
to be honest, I do not want to remove this coatings from the rims, hubs and all, cause karachi is coastal plain, and rust is always on hit list, for the one who does not cleans the bike/car after 7-10 days max.