Government making all-out efforts to resolve energy crisis: Khosa

Governor Punjab Sardar Latif Khan Khosa has said the government is making all-out efforts to solve the ongoing energy crisis and a number of power projects are on the way to ensure cheaper and uninterrupted power supply. The Governor was speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday. He said that both the public and private sectors would have to make joint moves to overcome the internal and external challenges being faced by the country.
He, however, assured the business community of his full support on all economic issues. Over the issue of MFN to India, the Governor said that local industry's interests would be safeguarded at every cost as country's interest is supreme. He said that all future economic policies would be evolved with the consultation of the private sector as these people are the real stakeholders and their participation is must to get desired economic results.
While welcoming the LCCI suggestion for Businessmen Police Liaison Committees, the Governor said that law and order situation in the province is beyond the satisfaction and he had also conveyed his apprehensions to the provincial government. Speaking on the occasion, the LCCI President Irfan Qaiser Sheikh called for revival of Businessmen Police Liaison Committee (BPLC) and said that the Lahore Chamber of Commerce and Industry is ready to join hands with police to check crimes particularly in commercial areas.
"The deteriorating law and order situation is sending a very wrong signal abroad therefore the government should collaborate with the private sector to weed out this menace once for all." He said that the Lahore Chamber appreciates the government decision to grant the status of Most Favourite Nation to India as the business community favours the expansion in regional trade but we are not in favour of any step that is taken at the cost of industry. We have serious concerns over this issue.
He said that in Pakistan, the mark-up rate is 15 percent which is the highest in our region. In India, the mark-up rate is 10.5 percent. On the other hand, the industry in Punjab was supplied with gas for less than 180 days last year which is not the case in other parts of country. In these circumstances the industrialists and businessmen of Punjab in a way get to pay the mark-up of almost 30 percent. What to talk about competing with Indian products, we even cannot remain competitive against the upcountry commercial hubs like Karachi.
Irfan Qaiser Sheikh informed the Governor that the most of the industry and associated sectors are not prepared to compete with Indian products. The difference of cost of doing business in Pakistan has compared to India needs to be looked at. In many cases, there are considerable differences in duty structures for various raw materials and semi-finished products that are imported by India and Pakistan.
On top of that there is a significant difference of dollar-rupee parity which gives India greater edge over Pakistan. From the last many years, the process of industrialisation has stopped. No new industry is being set up. The pressure of population increase is surging. All these factors are pushing us towards serious crisis. This scenario will suit to Indians far more than us because they by virtue of their economy size and economies of scale will supersede our fragile industry.
"No one can deny that we have already borne the brunt of Chinese low priced imports which have brought most of our industry to standstill. Now without addressing the concerns of the business community of Pakistan with regard to opening trade with India, the government would only put the residual industry on further risk." The issue of gas and electricity load shedding particularly in Punjab has to be taken up on priority. The Federal government and the relevant ministry should be directed to get the LNG project completed as early as possible. These steps will surely go a long way in tackling the energy crisis.
LCCI Senior Vice President Kashif Younis Meher, Vice President Saeeda Nazar, former Presidents Iftikhar Ali Malik, Mian Anjum Nisar, Mian Muzaffar Ali, Mian Misbahur Rehman, Shahid Hassan Sheikh, former KCCI president Qaiser Ahmad Sheikh also spoke on the occasion.