KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has urged the government to avoid granting additional holidays on the occasion of Eidul Fitr and immediately restore six working days a week so that ports, terminals operators and banks stay operational on Saturday which would help in facilitating business transactions, enhance revenue collection and ensure timely shipment of export consignments.
KCCI President Younus Muhammad Bashir in a statement expressed concern over reports of extended number of holidays on the forthcoming occasion of Eid-ul-Fitr, urged the Federal Finance Minister Ishaq Dar to ensure that only two holidays are announced for Eid-ul-Fitr as the business and industrial community and the country cannot afford to suffer further losses due to extended number of holidays. He said Karachi has suffered grave losses due to long weekends, bank holidays and extended holidays from time to time whereas the suspension of banking services and port operations on Saturdays multiplies the losses not only for the Business and Industrial Community but also for the national exchequer.
Keeping in view the depressed performance of almost all the sectors of the economy particularly Pakistan’s dwindling exports, the government must allow only two holidays for Eid festival, minimise bank holidays and revert the unjust decision of observing two holidays a week which have terribly affected the economy due to closure of ports, banks and other important offices, he added.
The Karachi Chamber president pointed out that closure of major offices, ports and banks on every Saturday delays the revenue collection process by one day whereas the complete shutdown of ports, terminal operators and customs aggravate the sufferings of exporters owing to cancelation of export orders.
