Home Critical engine FPCCI UBG urges exemption of industrial sector from gas and electricity shedding

FPCCI UBG urges exemption of industrial sector from gas and electricity shedding

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ISLAMABAD, (UrduPoint/Pakistan Point News – July 3, 2022): The United Business Group of the Federation of Pakistan Chamber of Commerce on Sunday urged the government to exempt the industrial sector from gas and power shedding in order to provide oxygen to a fragile economy in addition to meeting timely export targets.

Trade Group Chairman Shahzad Ali Malik, in a statement released here on Sunday, said the industry is the backbone of the economy and all incentives are offered to the industry to help accelerate the economic growth and social development in all areas of life.

He said it is practiced around the world that in the event of a power shortage, first priority is always given to industry followed by the agricultural, then commercial and domestic sectors.

He said industries are the engine of growth, so the government, in the wider national interest, ensures an uninterrupted supply of gas and electricity, especially for export-oriented industrial units, otherwise our sluggish economy will suffer more losses, rendering labor unemployed and, on the other hand, our agricultural growth and production. will be seriously affected due to the unavailability of electricity and the absence of water necessary for plowing.

Shahzad Malik said the energy sector has been an important driver of industrial growth over the past century, providing fuel to power the rest of the economy.

He said that energy is one of the main inputs for all production sectors. He underlined the urgent needs to fully exploit renewable energy resources to meet the ever-increasing energy needs of the industrial sector.

He said that gas and electricity are the lifeline of any industry without which the country cannot progress, so the government must at least ensure its availability for two continuous shifts to ship orders for export on time.

He said that the business community is ready to cooperate with the government in this critical crisis on the condition that it gives the stakeholders confidence before taking any political decision.

He said that in the prevailing scenario, the survival of any state depends mainly on a healthy economy coupled with political stability.

While concluding, Shahzad Ali Malik hoped that the government would give sympathetic consideration to their legitimate request.