KARACHI, May 2024: Despite the efforts and awareness created last time for unnecessary holidays granted by the government, we are again standing on a similar turn. Prime Minister, Shahbaz Sharif abruptly announced a public holiday on the observance of Youm-e-Takbeer as the businesses were planning to finalize their transactions for tomorrow.
Youm-e-Takbeer commemorates the day Pakistan carried out successful nuclear tests in 1998. As Pakistanis, we respect and celebrate this day wholeheartedly, but unfortunately, the times of today are not in our favour to enjoy any extra holidays that will put the private sector and banking sector on hold. Ismail Suttar, President Lasbela Chamber of Commerce and Industry.
The day of ceasing the economy is looming over our heads and the time has long gone when we could afford exclusive holidays, the situation demands us to be extra vigilant and hardworking than ever before if we wish to come out of this economic turmoil. The Private sector is up and running all day and all week to run the cycle of the economy, but the administrators are failing to understand the depth of the situation.
Ismail says the United States was observing its Memorial Day holiday today and Pakistan being a heavy exporter to the USA was waiting to resume its financial dealings tomorrow when the Government suddenly announced a public holiday tomorrow putting a four-day worth of cash inflow on hold in the time when the country desperately needs an inflow of dollars.
Pakistan is on the brink of default with our exports declining drastically and delaying any inflow of dollars by introducing too many idle holidays will push us down to the default line too quickly. The government needs to take heed of the situation and act accordingly rather than taking pointless actions to please the masses, especially at a time when the country is going all out to attract foreign direct investments, we feel that the investors will not be comfortable and convinced with such abrupt and unplanned decisions.
On behalf of the Lasbela Chamber of Commerce and Industry, I am deeply concerned about the business loss the private sector will face because of this ambiguous notification. President LCCI requests the government to, if not revoke, then revise the notification and announce the holiday for schools only and let the private sector work as usual.
