ISLAMABAD: The Islamabad Chamber of Commerce & Industry (ICCI) on Thursday called upon the government to defer the business community’s utility bills for a few months in order to save them from defaults and also appealed for a bailout package for the steel industry to save it from destruction.
ICCI President Muhammad Ahmed Waheed said that business activities have almost come to a halt and businesses are facing the threat of closures due to the pandemic. “Businesses are struggling for survival in the prevailing conditions. The government should allow them to pay monthly utility bills in three installments after the deferment period’s expiry,” he said.
“Manufacturing activities have reached the shut down level and manufactured goods are waiting for buyers with no good prospect in the near future,” he said, adding that it has become difficult for businesses to meet their day-to-day expenses and pay the wages to idle labour, therefore, deferring utility bills for a few months would provide businesses some relief.
He further said that energy cost in Pakistan is very high that has pushed up the cost of doing business manifold.
“This situation has made it difficult for the industry to remain competitive and meet domestic and international orders. High energy costs have pushed many businesses towards defaults. The government’s stimulus packages for might not save many industrial units,” he said.
However, the ICCI president said that the business community is standing with the government in this difficult time and would contribute to save the labour class from unemployment.
