KARACHI: Sohail Nisar, Senior Vice Chairman, Pakistan Yarn Merchants Association (PYMA), while expressing deep concern over electricity, gas tariff huge hike, and rejected anti-business & industry initiative.
He has termed it as disastrous for business & industry, and appealed Prime Minister Mian Muhammad Shehbaz Sharif and Federal Minister of Energy Power Division Engineer Khurram Dastgir Khan to take steps to reduce the cost of doing business in view of the ongoing serious economic crisis in the country.
In an appeal, PYMA Senior Vice Chairman said that instead of making electricity & gas more expensive, tariffs should be reduced so that the cost of doing business can be reduced, and industries can maintain their survival.
“The continuous plumbing of the Pakistani rupee and increasing in Dollar rate have already created difficulties for the importers of raw materials. Due to the unavailability of dollars, the containers of imported raw materials were stuck at the ports due to which the importers are facing serious losses in terms of heavy demurrage & detention charges.”
Therefore, in such a situation, an increase of more than 400% in electricity and gas tariff will increase the cost of doing business to an unbearable extent, which will have disastrous effects on the industries and domestic exports will also be adversely affected.
Sohail Nisar appealed to Prime Minister Mian Muhammad Shehbaz Sharif and Federal Minister of Energy Power Division Engineer Khurram Dastgir Khan to adopt pro-business policies for saving business & industry from destruction and to revive the country’s economy, especially utility charges should be reduced.
Otherwise, it will become difficult to do business and run industries, which will have a very negative impact on the country’s exports, while the employment of millions of workers will be at risk.
