PML-N government will steer economy out of troubles: FCCI

With the people's full mandate, PML-N government will confidently steer the economy out of troubles, overcome the energy crisis by taking bold decisions in the larger interest of Pakistan's economic sovereignty, said President Faisalabad Chamber of Commerce and Industry (FCCI) Mian Zahid Aslam.
Talking to newsmen, he said that people and business community of the country attaches full hopes and confident that with the PML-N government into power, there will usher in new era of economic reconstruction and prosperity to all. He said that the top most problems on economic front are mainly energy crisis, revival of economy, law and order, education to be resolved on priority basis by the PML-N government. He further stated that shortage of electricity and gas has made the industrial economy crippled and stagnated all the business and commerce activities in the country.
He said that the problem is not of electricity installed capacity in the country but to enhance generation to fill the gap of 6000 MW to meet the shortfall which can be managed to overcome the circular debt problem, reducing the line losses and theft and better management in the power sector. He estimated that nearly 2000 to 3000 MW shortfall is due to circular debt that has increased to Rs 537 billion in 2012 from Rs 144 billion in 2008.
He exhorted that the energy crisis has caused billions of rupees loss to the national economy, increase in unemployment and 2-3 percent loss to the GDP growth of the country annually though about 40 percent of the country's population is still out of electricity. He stated that the energy crisis require to be resolved through short-term measures and medium and long-term plans as to construct major hydel dams to produce cheaper electricity for the rapid industrialisation in the country and to get rid the country and its people out of darkness. He said we are fully supportive for all the measures and steps to be taken up by PML-N to get resolved problems confronted to the country on the economic front for brighter future to all of us and coming generations.