PIAF urges government to take prudent decision to stabilise economy

The Pakistan Industrial and Traders Association Front (PIAF) has appealed the government not to neglect the declining condition of economy while fighting terrorism as economy simply needs prudent decisions and setting the priorities right. The industrial sector particularly the exporting sector has already factored in the impact of terrorism on their business.
He said that they were facilitating government in earning precious foreign exchange by cutting their margin drastically to attract foreign buyers, the PIAF Chairman Irfan Qaiser Shiekh stated this in a statement issued here, on Monday. He said that the rates offered were so attractive for foreign buyers.
Shiekh said under this scenario the exporting industries need maximum facilitation and assistance from the government. He said that textile has a share of more than 60 percent in our exports and 2.4 million job opportunities, is bearing the burden of high interest rates, high inflation and very high input cost but even then it is resisting decline in its exports through better efficiency and cut throat export prices.
This industry is not in a position to absorb any shock or additional pressure, he said and added that the closure of gas supplies for five months to the textile sector has put unbearable pressure on the sector that is likely to result in large scale closure of the industries or shifting of textile units in other countries.
He said that gas is a basic input of textile sector and many industries have no alternative for gas and even if they have like that of furnace oil or diesel it is four to six times more costly. The industries already operating on sharp margins would go out of business if gas supplies are cut for such a long period, he said.
The PIAF chief said instead of adopting public appeasing approach in this regard the government should consider the supreme national interest and restore the gas supplies to the industry. This could be done through prudent gas management under which the use of gas room heaters should be banned. The CNG stations should be asked to operate at times when the gas consumption in the country is low.
The fertiliser companies should be asked to close of one month for yearly maintenance. These mills should also be asked to share the gas shortage by closing them for additional 15 days. He said that all that the Pepco run thermal units should be run on furnace oil, instead of gas, as their generating efficiency is not more than 40 per cent.