Pakistan Industrial and Traders Associations Front urges government and political parties to play their role in economic stability of the country

Lahore, January 17, 2013 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) has urged the government and political parties to play their role in economic stability of the country as protests and dharnas are causing undue damage to the economy besides hampering the business activities.

The demand was raised at the meeting of PIAF Executive Committee chaired by its Chairman Engineer Sohail Lashari. Former PIAF Chairmen Muhammad Ali Mian, Sheikh Muhammad Arshad, Mian Abuzar Shad, LCCI Senior Vice President Irfan Iqbal Sheikh and Tahir Javed Malik were also present on the occasion.

The participants also unanimously passed a resolution whereby they urged the government to ensure uninterrupted supply of electricity and gas as deteriorating law and order situation, anti-industry measures had already pushed the country to the wall.

Engineer Sohail Lashari said that it was very unfortunate that the government could not build its economic team and in its five years tenure it changed four finance ministers, six finance secretaries and four governors of State Bank of Pakistan.

The PIAF has also demanded of the government take business community into confidence on all economy-related plans so that the businessmen could be able to do their businesses with a new vigor.

The participants were one voice that ongoing situation was not conducive to the businesses and was denting the overall economy to the maximum. Exports are not very encouraging because of high markup, energy crisis, shortage of skilled labor and above all the bad law and order situation.

The participants were of the view that repeated hikes in the electricity tariff have particularly disturbed the business community in general and the export-oriented industry in particular. They said that it was not the Large Scale Manufacturing Sector alone that was facing the challenges but the small businesses were also very worried.

To attract new foreign investment, the government should not only motivate the commercial section of Pakistani missions abroad but it should also give incentives to the Large Scale Manufacturing sector that has the ability and contacts as well to initiate joint ventures with the counterparts in foreign countries.

They said there was no dearth of resources in Pakistan as its products were best of best in the world and was suffering only because of non-availability of any national marketing strategy. “A proper strategy to market Pakistan as a place worth doing business is dire need of the hour but unfortunately never-ever in the past a due attention was given to the fact.”

They also invited the attention government towards the fast decreasing share of Agriculture sector in the GDP and urged the government to give due consideration to this important area. The participants expressed concern on rupee devaluation, increasing internal and external debts and law and order situation.

For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522

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