ISLAMABAD, October 19, (INP-WealthPK): Pakistan’s export targets will remain unmet if the industry continues to face electricity and gas loadshedding, said United Business Group of the Federation of Pakistan Chamber of Commerce (FPCCI).
“Therefore, it is important that uninterrupted supply of energy is provided to the industrial hubs,” Shahzad Ali Malik, chairman of the United Business Group, said in a statement received by WealthPK. He said the export base of the country will not see a substantial expansion unless the industry operates at its full potential. He said that the industry serves as the “backbone” of the country’s economy. “It is the industry that provides employment to millions of labours and produces necessary goods for everyday economic activity. It is essential that incentives are provided to the industry so that economy can be given a boost by a surge in production,” he said.
“If energy supply is not ensured to the economy, national objectives of growth and social uplift will not materialize. The energy sector is an important driver of economic growth. Therefore, it falls on the government to reform it and ensure that energy is supplied uninterruptedly to the industry,” he said.
He said, “energy is one of the main inputs of all production processes. There is an urgent need to fully exploit the renewable energy sources to meet the ever-increasing energy needs of the industrial sector.”
“At least, the government must ensure its availability for two shifts continuously to ship export orders on time. The business community is ready to cooperate with the government in this critical time provided they take stakeholders into confidence before taking any policy decisions. In the prevailing scenario, the survival of any state is primarily dependent on sound economic decisions coupled with political stability,” he added.
