FPCCI urges measures to overcome gas crisis

FPCCI urges measures to overcome gas crisis

KARACHI – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called upon the government to implement effective measures to alleviate the ongoing gas crisis, emphasizing the need for uninterrupted gas supply to industries and a reduction in electricity tariffs.

FPCCI President Mian Nasser Hyatt Maggo issued this plea during a meeting on the occasion of a delegation visit led by Saqib Naseem, Central Chairman of the Pakistan Yarn Merchants Association (PYMA) to FPCCI.

President Maggo highlighted the severe repercussions of the gas and power shortages on trade and industry. He warned that if these issues are not promptly addressed, the industrial sector would suffer, exports would be adversely affected, and national revenue would decline.

The meeting provided a platform for discussing critical issues facing the country’s industries, with President Maggo underscoring the urgent need for the government’s attention to the ongoing power and gas crises. He stressed that a comprehensive strategy is required to tackle these challenges.

Addressing the PYMA delegation, President Maggo inquired about the specific issues they face regarding duties and taxes imposed in the federal budget. He assured the PYMA members that FPCCI would actively engage in resolving these problems and sought their input for the upcoming budget, aiming to incorporate their suggestions for the benefit of the industry.

Saqib Naseem, Chairman of PYMA, expressed satisfaction with FPCCI’s proposal to establish a committee and welcomed the invitation to visit PYMA for a detailed discussion on critical trade and industry issues. He also endorsed the proposal to collaboratively prepare budget proposals for the upcoming federal budget through mutual consultation.

During the meeting, PYMA members presented a set of demands to the government. They called for the elimination of the distinction between commercial and industrial importers, an increase in the production of synthetic yarns, the abolition of section B, and a reduction in the duty drawback. These demands, if addressed, are expected to contribute significantly to enhancing the competitiveness of the textile and yarn industry.

The collaboration between FPCCI and PYMA reflects the collective efforts of industry stakeholders to address pressing issues and find sustainable solutions. It highlights the importance of dialogue and cooperation between the government and private sector entities to foster a business-friendly environment.

As Pakistan navigates economic challenges, the imperative to ensure a stable energy supply and address industry-specific concerns becomes increasingly crucial. The government is urged to heed these calls from the business community and implement effective measures to support economic growth and stability. The upcoming budget discussions are anticipated to play a pivotal role in shaping policies that will impact the business landscape in Pakistan.