FPCCI urges govt to exempt industrial sector from load shedding

The Federation of Pakistan Chamber of Commerce’s United Business Group Sunday urged the government to exempt the industrial sector from gas and power load shedding to provide oxygen to the fragile economy besides meeting exports targets timely.

In a statement, Chairman Business Group Shahzad Ali Malik said the industry is the backbone of the economy, and all-out incentives must be offered to the industry to contribute to accelerating economic growth and social development in every sphere of life. He said it is practised the world over that in case of power shortage, the priority is always accorded to the industry followed by agriculture, commercial and domestic sectors.

He said industries are the engine of growth, so the government in the larger national interests must ensure an uninterrupted supply of gas and power, especially to export-oriented industrial units. Otherwise, he warned, our bleak economy will further suffer more losses, rendering the workforce jobless. On the other hand, he added, “Our agricultural growth and production will be affected badly due to non-availability of power and absence of required water needed for ploughing.” Shahzad Malik said the energy sector had been an important driver of industrial growth over the past century, providing fuel to power the rest of the economy. He said energy is one of the main inputs of all production sectors. He stressed the urgent need to fully exploit renewable energy resources to meet the ever-increasing energy needs of the industrial sector.

He said gas and power is the lifeline of any industry without which the country couldn’t progress; therefore, the government must ensure its availability for two shifts to ship export orders on time.

He said the business community is ready to cooperate with the government in such times, provided they take stakeholders into confidence before taking any policy decision. He said in the prevailing scenario, the survival of any state is mainly dependent on a sound economy coupled with political stability.

Shahzad Malik hoped that government would give sympathetic consideration to their legitimate demand and take bold decisions to save the crumbling economy from collapse.

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