PIAF wants clear headed action on economy | Pakistan Today

PIAF wants clear headed action on economy

LAHORE – The government should devote attention to real economic issues and come up with a comprehensive solution to the challenges that the business community is presently facing. These views were expressed by former LCCI President Mian Anjum Nisar while speaking at the Annual General Meeting of Lahore Township Industries Association.
MNA Naseer Bhutta, former LCCI presidents Mian Shafqat Ali, Mohammad Ali Mian and newly elected Lahore Township Industries Association Chairman Haroon Shafiq Chaudhry also spoke on the occasion. Nisar said that it was very unfortunate that despite repeated appeals made to the government, the federal government has not addressed the issue of discrimination in the supply of gas to Punjab.
He said that only because of gas shortage, goods being manufactured in Punjab have become uncompetitive not only in the global market, but in the domestic market as well. The LCCI former president said that the decline in manufacturing sector output, unemployment and the high rate of inflation was reflecting very badly on the image of the economy and the country as a whole with foreign businessmen reluctant to make any significant investment in Pakistan.
Therefore, the government should immediately convene a meeting of business leaders so that a solution could be evolved, he urged. It was elaborated that the private sector is the engine of growth, but the government is seemingly unconcerned by the problems the sector is pitted against. He said that the private sector has the ability to bring the country out of economic morass but unfortunately the government had no time to utilize their abilities.
He said that the business community was unable to understand that why had the government failed to move forward on Kalabagh Dam despite the fact that the Prime Minister had already admitted its importance. The LCCI former President said that the heavy borrowings by the government had put its credibility at stake therefore the government should immediately stop this practice.
Speaking on the occasion the newly elected Chairman of Lahore Township Industries Association Haroon Shafiq Chaudhry said that industrialists in the Industrial area were in deep troubles owing to acute gas and electricity shortage. He said that a large number of industries had already shut down operation leaving thousands of industries without employment.
He also drew the attention of the State Bank of Pakistan governor towards the alarmingly high markup rate that stands in the path of further industrialisation in the province. MNA Naseer Bhutta assured the business community that he would take up the issue of discrimination in gas supply in the National Assembly.

Related posts