LAHORE–Federation of Pakistan Chamber ofCommerce and Industry (FPCCI) and Lahore Chamber of Commerceand Industry demanded exemption of textile sector from loadshedding to avail 900 million euros WTO trade waiver.
PFCCI, an apex body of chambers in the country alsofurther demanded withdrawal of increase in prices of fuelincluding gas to help strengthen national economy besidessaving the industrial and agricultural sectors fromirreparable loss.
President FPCCI, Senator Haji Ghulam Ali, VP SAARC CCIIftikhar Ali Malik and LCCI SVP Meher Kashif Younis in a joint statement demanded that government, in larger nationalinterest, should accord priority to industrial andagricultural sectors especially textile sector in the wake oftwo year WTO waiver for competing global markets.
They demanded uninterrupted gas, power supply throughoutthe year to meet the economic growth and boost export targetsespecially textile sector besides ensuring bumper crops.
They said that survival of all countries rely on sound economy, hence in the greater national interest the government should reshape its policy of load shedding to provide a chance to industry to flourish.
Iftikhar Ali Malik said that hike in gas, power andpetroleum products prices would affect the manufacturers, already disturbed by gas and power load shedding. The high tariffs had created liquidity crunch for importers of industrial raw materials, he said.
He said that keeping in view global business scenario, high mark up rate by banks should also be reducedto single digit for providing solace to the industry.
LCCI SVP Meher Kashif Younis, VP, Saeeda Nazar, executivemembers Aftab Ahmad Vohra and Mian Waqar Ahmad said thatabsence of gas and power and increased prices would burden theindustrial sector which was already facing high mark up rate.
"All these factors are increasing the cost of doing business", they added.
Meher Kashif said that government in order to fully encouragethe textile export with reference to WTO waiver must providean excellent package of incentives cum concessions to competewith other countries in international markets.