KARACHI: Mian Nasser Hyatt Maggo, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has strongly condemned government’s indecisiveness causing supply instability in Pakistan’s global trade.
Amid colossal financial & production losses, export orders in doldrums, massive layoffs expected, unrest & uncertainty prevails, global community & diplomatic circles in Pakistan are closely observing this deteriorated situation to report to their countries.
The Industries of Karachi are deeply shocked over no response of the government. The industries have faced colossal financial and production losses during last 66 days due to no gas supply to the industry. Industry in Karachi is highly distressed when they cannot operate their units while on the other hand the national exports, revenue for the national exchequer and influx of foreign exchange will also face drastic decline to which the government also seems to be the least concerned.
He further said that the claims of the government of being business and export friendly appear to be only lip service. Apparently, it sounds and feels like nobody in the government is thoughtful of the situation and least bothered to care for and act towards the repeated appeals of industrialists of Karachi to rescue the industries, support industrial activities and safeguard exports which is highly awkward and deplorable.
FPCCI President said that the hard and priceless efforts of the industries and their new investment for further industrialization will be sabotaged. Why should the industries suffer and pay for the sins committed by the ill-planners in the government who have caused the ongoing gas crises?
He also regretted that the weak planning by the government is depriving the industries of Karachi from gas/ RLNG and departing from the vision of the government to see the country on sustainable export growth to narrow down the gaps in balance of payments. The diplomatic circles in Pakistan including the Ambassadorial Missions of various countries in Islamabad and Karachi have been observing the situation and sending their advisories to the buyers of their countries which may result in disruption or discontinuation of existing and new export orders.
Mian Nasser Hyatt Maggo urged the Prime Minister of Pakistan to take immediate cognizance of the situation and respond towards the correcting of the present situation faced by the industry in Karachi where there is no gas for the last 66 days, and save the investment in industry.
Further he urged the Prime Minister to save the situation from its falling image in the global trade market. The aggravated situation may lead high unrest and uncertainty due to closure of industries in Karachi and massive layoffs and drastic decline in the revenue of national exchequer.
Copyright Business Recorder, 2022
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