Economic crises: PIAF urges Prime Minister to convene meeting of stakeholders

The Pakistan Industrial and Traders Associations Front (PIAF) has appealed to the Prime Minister to immediately convene a meeting of stakeholders to bring the country out of economic mire. The PIAF Chairman, Irfan Qaiser Sheikh stated this while talking to the representatives of Lahore Township Industrial Area, Ferozepur Road Industrial Area and Katarbund Road Industrial Area here at PIAF office on Friday.
The businessmen delegation was jointly headed by Baber Mehmood Chaudhry, Khawaja Arif Qasim and Arshad Baig. The PIAF Chairman said that the economic challenges were increasing with every passing day and need attention from the concerned quarters and there was a need to take urgent measures in consultation with the private sector. He said that the government could get rid off foreign loans once uninterrupted supply of electricity and gas to the local industry and a duty-free access of Pakistani merchandise to US and European Market was ensured.
The PIAF Chairman was of the view that a consistent liaison between private sector and government circles could help overcome gas and electricity shortage. The closure of industry for two consecutive days would only complicate the situation for the government instead of doing any good to the economy. The industrial production was already at its lowest ebb and one can well imagine the scenario when there would be a five-day week for the industry, he added.
He said that country could improve its growth rate without any foreign assistance if unwarranted wastage such as electricity transmission losses and gas losses due to inefficient appliances were controlled. Therefore, the PIAF Chairman said the Prime Minister should immediately convene a meeting with stakeholders for a solution to the issues.