Former vice-president, Federation of Pakistan Chambers and Industry, and tycoon of Pakistan's leather industry, Arshad Alam, has called upon the government to ensure smooth supply of gas and electricity to industries in the country, especially in Karachi to avert a depression in the national economy.
He told APP here that the major sectors of exports-textile and leather industries, have been badly affected due to disrupted supply of gas and power.
"Even a minor breakdown in gas and power supply results in a huge loss to leather and textile factories in terms of wastage of raw materials, semi finished goods and labour cost," he said adding that dozens of spinning units and tanneries have been shut down for want of the utilities.
The industrialists in Pakistan are already facing high cost of doing business which makes very difficult for them to compete in regional and international markets, he maintained.
Now, the industrialists are facing another serious challenge to honour their export orders on schedule. In the obtaining political, economic and social conditions, the foreign traders and investors have started diverting to other countries like China, India, Sri Lanka, Arshad Alam maintained.
Pakistan's share in United States and European markets was diminishing fast, the FPCCI Ex-VP asserted, stressing that immediate rectifying measures were needed in this regard. "Many export orders given to Pakistani firms have been cancelled and diverted to India and China," he pointed out.