Business Community of Southern Punjab expresses its concern on long duration of power load shedding

Multan, August 19, 2015 (PPI-OT): The Business Community of Southern Punjab has expressed its concern on the long duration of power load shedding and frequent interruption of supply describing it harmful to country’s economy. Expressing his concern President of Multan Chambers of Commerce and Industry (MCCI) Mian Iqbal Hassan said that over 17 percent decline in exports during July 2015 due to shortages of electricity, gas and water to the industrial sectors hampering production across the country.

“The shortages of electric and gas have caused closing of various industrial units in the Southern Punjab and some are on the verge of closer,” he claimed. He reiterated that the exporters are constrained to obtaining loan from commercial banks to address their financial crises because of their stuck up refunds with FBR and SBP which ultimately increase the cost of doing business.

He, however, appreciated the Trade Development Authority of Pakistan Chief Executive SM Muneer and his team for doing best to promote exports. The problems of shortage of energy and water are beyond the control of TDAP. However, the shortage of working capital of exporters can be resolved, if government releases their refunds. He said that these refunds and rebates have unfortunately been accumulated to over Rs.230 billion during last two years and are adversely affecting the cash flow of the exporters.

For more information, contact:
Multan Chamber of Commerce and Industry (MCCI)
Sharah-e-Evan-e-Tijarat-o-Sanat, Multan
Tel: +92-61-451 7087, 454 3530
Fax: +92-61-457 0463