Industrial productions has almost halted due to frequent power failures (after every 15 minutes) thus reversing all government and private sector efforts to rejuvenate economic activity in the country. In a statement issued here on Wednesday after having a meeting with a number of industrialist delegations, the LCCI Acting President Sheikh Mohammad Arshad said that the Lahore Chamber of Commerce and Industry was unable to understand as to how the government would be able to meet export target, bring down unemployment and collect revenues when it has failed to ensure uninterrupted electricity to the industry.
The delegations that called on the LCCI Acting President included Ferozepur Road Industrial Association, Lahore Township Industrial Association and Katarbund Road Industrial Association. Sheikh Mohammad Arshad said that there was no doubt that the country has an acute shortage of electricity and there was no overnight solution to this problem but at the same time the concerned electricity authorities must abide by the agreement they made with the industrial areas regarding supply of electricity. LCCI Acting President said that if uninterrupted electricity supply was not ensured forthwith, nobody would be able to execute export orders well in time, which will cause a great loss to the country. When foreign buyers will not receive their orders they would definitely turn to other countries.
The government should understand the gravity of the situation and issue necessary directions to stop power fluctuations. He pointed out that thanks to high commodity prices in the international markets Pakistan achieved $25 billion export target. But if the energy issue remained unresolved for some time it would be impossible for both trade and industry to achieve export and revenue targets this year. This would, he indicated, further deteriorate the trade balance and fiscal position of the country. The LCCI Acting President said that the President of Pakistan, Prime Minister and Chief Minister Punjab should intervene and order the PEPCO authorities to ensure electricity supply to industry.
