LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has urged the government to announce a comprehensive, effective and multi-sectoral winter package for trade and industry to mitigate and overcome challenges in industrial production.
He added that industries are in a dire need of facilitation, incentivization and cost-cutting measures to meet export targets through competitiveness in the export markets, according to FPCCI spokesman here.
Atif Ikram Sheikh apprised that the primary demand of FPCCI is Rs. 20 / kWh electricity tariff for export-oriented industries as, at the moment, the biggest contributor to the cost of production and cost of doing business in Pakistan is electricity tariff; which also happens to be high in the region and also as compared to competitors in the export markets.
Atif Ikram Sheikh cautioned that any conditional eligibility criteria tied to incremental gas consumption, as was the case last year, would exclude and neglect many export-oriented industries. Last year, several units did not have gas supply connections; which made it impossible for them to meet this conditionality, he mentioned.
Therefore, FPCCI demands that government should offer the winter package without conditions-ensuring equal access to all export-oriented industries. This inclusive and transparent approach would boost the exports, employment and economic growth. “We urge the government to prioritize the well-being of all export industries,” he added.
FPCCI President said that trade and industry remains committed to collaborating with the government to promote Pakistan’s economic growth and export competitiveness. “It is a win-win scenario as the support to industries will help the country achieve substantial export growth; import substitution; shore up foreign exchange reserves (FER); stabilize rupee-dollar parity and keep current account deficit (CAD) in check.”
He also reiterated the FPCCI’s demands of renegotiating power purchase agreements (PPAs) of all independent power producers (IPPs) on take-and-pay basis; revitalizing the privatization process of PIA; bringing key policy rate in single-digits and taking far-sighted macroeconomic policy measures for consistency in policies and promoting ease of doing business. He claimed, “We, at FPCCI, have a futuristic and practical Vision 2030 to achieve exports target of US $100 billion; and we need adequate governmental support to materialize it.”
