Pakistan Industrial and Traders Associations Front optimistic that new government would be able to overcome energy crisis through implementation of transparent policy framework

Lahore, May 17, 2013 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) has expressed the optimism the new government would be able to overcome the energy crisis through implementation of transparent policy framework.

In a statement issued here on Friday, the PIAF Chairman Malik Tahir Javed said that corruption in different tiers of the society is one of the reasons of energy crisis and if this menace is weeded out successfully the things would take a positive turn. He said that the National Accountability Bureau had revealed that corruption eats up Rs 8 to 12 billions daily.

The PIAF Chairman said that the new government would be able to create a conducive business atmosphere provided it spends all its energies of control the menace of corruption, ensure cut in circular debt through recovery mechanism and a considerable curtailment of unnecessary expenditures.

He said that the loadshedding would die down automatically if the Independent Power Producers are made payments as per their schedule.

He said that the electricity shortage is one of the major reasons of the economic down turn but the business community is quite hopeful that the Mian Nawaz Sharif and Mian Shahbaz Sharif would be able to surmount the energy challenge.

The PIAF Chairman said that since the neighbouring India is producing one third of its total electricity production through coal, the new government would also have to give some attention to this aspect as Pakistan has one of the largest coal reserves in the world.

He said that the business community is also quite confident that the new government would be able to win consensus on Kalabagh Dam as PML(N) has emerged as majority party in the country.

Malik Tahir Javed said that once the economy is back on its feet, there would be no dearth of financial resources in the country and Foreign Investment would also get a boost.

For more information, Contact:
Khalil-ur-Rehman
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Email: Info@piaf.pk

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