The Pakistan Yarn Merchants Association (PYMA) has urged the government to announce a national economic emergency plan on the lines of national action plan to combat the economic stagnancy in the country.
Central Chairman Qaisar Shams Guccha, Zonal Chairman Muhammad Akram Pasha and Zonal Vice Chairman Adnan Zahid Butt stated this while talking to newspersons on Wednesday.
They said the national action plan addressed part of the problems in establishing peace by curbing terrorism but unless the economic conditions in the country were not strengthened the overall stability business trade export and industrial progress would remain elusive. They pointed out that fortunately some external factors were favourable for Pakistan as the prices of petroleum products had dipped by 50pc in international market. Resultantly, the import bill of petroleum will be halfed and there will be no pressure on the government to arrange Forex excessive petroleum bill. Rather, the government would not be obliged to borrow loan from the IMF and other foreign financial institutions. They pointed out that the country was confronted with emergency problems at present encompassing long hours of electricity and gas load shedding which had greatly reduced the business and economic activities. The government can overcome the energy crises adopting emergent economic policies. Explaining their arguments, they said the price of furnace oil had dipped by $ 270 per ton which made it feasible to run some electricity plants on furnace oil for winter seasons. Similarly, some gas run plants of electricity could also be converted to furnace oil temporarily for winter months. The association of office-bearers further urged the government to expedite the completion of coal based and solar based energy plants as well as speeding up of under construction hydel projects.
