Karachi (September 6, 2023) The discussions and orders held in the meeting of the business community with the Army Chief General Asim Munir have started yielding better results and a crackdown has started during the days to prevent smuggling. It is expensive, the whole nation is facing a lot of difficulties at the moment, the reason for inflation is also the increase in the value of the dollar, the difference between the inter-bank and open market is very high, the government is renewing the soon-to-be-expired contracts with IPPs. So that the nation can get rid of the looting of IPPs.
These views were expressed by United Business Group (UBG) President Zubair Tufail, Chairman Sindh Region Khalid Tawab, Secretary General (Sindh) Hanif Gohar and Dr. Mirza Ikhtiar Baig during a press conference at Karachi Press Club on Wednesday.
According to UBG Central Spokesperson Gulzar Firoz, President UBG Zubair Tufail said regarding the meeting of the business community with the Army Chief that the meeting of the business community with the Army Chief General Asim Munir was held in a positive atmosphere and the representatives of the business community met the Army Chief. have given suggestions and discussed the current economic situation with them, on the price of electricity, the Army Chief’s position was that it is under the condition of the IMF, however, the Army Chief assured immediate measures to prevent smuggling, which It has been implemented.
Zubair Tufail said that we asked the army chief to reduce the prices of food and drink items first, institutions have to play a role to stop smuggling, shortage of anything in Afghanistan is not our problem, fertilizer is also smuggled. It is happening, all the owners of IPPs should be banned from going out and the names of all domestic and foreign owners of IPPs should be put in the exit control list.
Zubair Tufail said that at this time a small family with two children cannot live on 50,000 rupees and the traders who are also involved in increasing this inflation should stop their steps. It is unjustified to take the price of sugar up to 180 rupees. The stock is around 1.8 million tons, which is enough for three and a half months, the country’s wheat production is high, flour, wheat, sugar and other essential items are being smuggled into Afghanistan, due to which these items are expensive in the local market, as well as saria, fiber. Pakistan is being smuggled in large quantities of cloth, chemical from Iran.
Khalid Tawab said that due to the deterioration of the country’s economy, the industries are facing difficulties, traders and industrialists are also worried about the electricity bills, 40% of the industries are closed in Pakistan, but after the meeting with the Army Chief, there is a little ray of hope. Khalid Tawab said that the situation is going very serious due to the increase in unemployment, compared to the neighboring countries, the economy in Pakistan is in a bad state.
In his address, Hanif Gohar said that the related institutions are responsible for the increase in the prices of food items and products, the Competition Commission did not play its role in stopping inflation and cartelization, and when the relevant institutions were mobilized on the advice of the Army Chief, the dollar and sugar The prices dropped immediately. Hanif Gohar said that all institutions should play their role in stopping smuggling. When the institutions started their work, the dollar also came down. The business community will definitely give credit to the Army Chief.
He demanded that the business community be represented in the Special Investment Facilitation Council (SIFC) created for investment, because the private sector has an important role in the country’s economy. Mirza Ikhtiar Baig said that the IPPs 1994 contracts are frauds, IPPs contracts are expiring to be renewed on new terms, Senate has also sought details of contracts with IPPs, more than the military budget to IPPs. Two thousand billion rupees were paid as capacity surcharge.
