Pakistan Yarn Merchants Association (PYMA) has urged the government to announce a national economic emergency plan on the lines of National Action Plan (NAP) to combat the economic stagnancy in the country. This was stated by Central Chairman Qaisar Shams Guccha, Zonal Chairman Muhammad Akram Pasha and Zonal Vice-Chairman Adnan Zahid Butt while talking to media persons here on Wednesday.
They said that National Action Plan aimed at establishing peace by curbing terrorism but unless the economic conditions in the country were not strengthened the overall stability business trade export and industrial progress will remain elusive.
They pointed out that fortunately some external factors were favourable for Pakistan as the prices of petroleum products have dipped by 50 percent in international market. Resultantly, the import bill of the petroleum will be tabled and there will be no pressure on the government to arrange forex excessive petroleum bill.
Rather the government would not be obliged to borrow loan from IMF and other foreign financial institutions. It was, therefore, highly imperative the government should announce emergent measures to boost the economic, industrial, trade and business activity in the country. They pointed out that the country was facing numerous problems at present encompassing long hours of electricity and gas loadshedding which has greatly reduced the business and economic activities. The government can overcome the energy crisis adopting emergent economic policies.
Explaining their arguments, they said the price of furnace oil has dipped by $270 per ton which makes it feasible to run some electricity plants on furnace oil for winter seasons.
Similarly, some gas run-plants of electricity could also be converted into furnace oil temporarily for winter months. The association's office-bearers further urged the government to expedite the completion of coal and solar-based energy plants.
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