Yarn Merchants Stress Political Stability for Economic Growth

Yarn Merchants Stress Political Stability for Economic Growth

Qaisar Shams Ghucha, Chairman of the Pakistan Yarn Merchants Association (PYMA), has underscored the significance of political stability in driving economic growth.

He emphasized that Pakistan should take measures to control fluctuations in the value of the dollar, and both exporters and industries should receive energy subsidies. Ghucha made these statements during a visit to the central secretariat in Karachi, where he attended a meeting of the PYMA executive committee to address pressing issues faced by association members.

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Accompanying Ghucha at the meeting were Sohail Nisar, Senior Vice Chairman, Javed Khanani, Vice Chairman of PYMA, M. Usman, Khurshid A. Shaikh, Saqib Goodluck, Salim Adaya, Junaid Teli, Khurrum Bharara, Mumtaz ul Haq, Ashraf A. Sattar, and Waheed.

The PYMA Chairman emphasized the need for government departments to assume responsibility for implementing policy measures and initiatives that benefit the general public, while also highlighting the need for improved performance. Ghucha suggested that the government should facilitate the provision of solar panels under favorable conditions to meet the country’s power demands, thereby stabilizing the agriculture sector.

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He also urged the government to extend support and facilities to the small and medium enterprise (SMEs) sector and power looms. Ghucha expressed concern over the issuance of illegal notices by the Federal Board of Revenue (FBR) to industries, resulting in widespread closures. He emphasized the urgent need for steps to improve the situation.

Furthermore, the PYMA Chairman commended the efforts of Prime Minister Mian Shehbaz Sharif and Chief of Army Staff Gen. Asim Munir in reviving the economy, expressing confidence that these measures would lead to progress. He predicted an increase in exports and foreign exchange deposits, which would have a positive impact on the general public.

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Sohail Nisar, Senior Vice Chairman of PYMA, endorsed the views expressed by Qaisar Shams Ghucha, expressing satisfaction with his presence and anticipating a stronger future for both regions of PYMA to better serve their members.