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Business activities come to a halt: power outages in various parts of Faisalabad continue
KHALID ABBAS SAIF
FAISALABAD (August 29 2008): Load shedding of electricity in the different parts of the Industrial city continuing for 16 to 18 hours unabated, people and traders in Faisalabad, Jaranwala, Khurrianwala, Samundri, Gojra and Toba Tek Singh stand extremely vexed by the load shedding and business activities have come to a halt.

Severe load shedding of electricity coupled with transporters have caused default of export consignments with apprehensions of thousands of dollars in claims over delayed, said textile exporters.

Owners of Powerlooms Units, Sizing Factories and other ancillary industries have demonstrated against power outage in Ghulam Muhammadabad Colony, Faizabad, Khurrianwala Industrial Estate, Liaqatabad, Lakkar Mandi and other industrial areas. The protesters in Union Council 183 also went violent breaking the windowpanes of vehicles besides blocking the traffic by burning tyres.

Textile exporters have expressed concern over the increase in the duration of load shedding and said it would not only have negative impact on production but also make it difficult to achieve the set export target.

Talking to newsmen here on Wednesday, Tahir Ishaq Bharara Chairman PTEA said that unscheduled loan shedding was affecting the performance of the boilers in printing mills. He said that repeated start of boilers after tripping of electricity has increased their expenditures in addition to damaging the electrical appliances.

The cloth in the process of printing is also damaged in addition to wasting the chemicals and dyes, he added. He said that textile owners have been repeatedly bringing this issue into the notice of Faisalabad Electric Supply Company authorities but instead of giving them relief, they have further increased the during of load shedding.

He urged upon the FESCO authorities to take export-oriented industry into confidence to solve the problem of load shedding with planned and negotiated load management. He also demanded of the government to exempt export-oriented industry from loan shedding.

In Allama Iqbal Colony peoples came out on the streets in protest and forced the closure of shops in the town. The people demonstrated against power outage at various localities.

Talking to newsmen, Waheed Khaliq Ramey, Chairman Standing Committee of Powerloom Sector of Faisalabad Chamber of Commerce and Industry said that sixteen-hour scheduled and unscheduled load shedding has virtually crippled the industrial sector and halted business activities.

Expressing solidarity with Owners of Sizing and Powerlooms Units, he assured them of their full support, saying they were conscious of the fact that political uncertainty coupled with poor law and order situation was negatively affecting the economy. He urged the government to take corrective measures so that the business community could be able to do their businesses with peace of mind. He also urged the government to ensure the availability of electricity to control worsening economic situation.

Copyright Business Recorder, 2008


   
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The Rupee
Interbank closing rates for dollar on Monday.
BuyingRs 84.94
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Dollar moves both ways
8622.72  41.98
Sectoral Indices 
Market at Close
BRIndex-30 8,558.40
KSE-30 Index 10,188.76
KSE-100 Index 9,786.46
LSE-25 Index 3,049.83
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Gold Per 10gm 30,514.00
KCA Spot Rate 4,625.00
Libor Rate 0.38625
World Indices
Index Closing Chg%
DJIA 9,908.39 1.04
Nasdaq 2,126.05 0.70
S&P 1,056.74 0.89
FTSE 5,092.33 0.60
DAX 5,484.85 0.93
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H.Seng 19,790.28 1.22
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NY Closing
Euro 0.7329
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Yen 89.26
Gold 1066.20
Cotton 69.160
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Economic Indicators
Annual2008/09
Foreign Debt $50.1bn
Per Cap Income $1046
GDP Growth 2.0%
Average CPI 20.77%
MonthlyDecember
Trade Balance $-1.33 bln
Exports $1.58 bln
Imports $2.91 bln
WeeklyFebruary 08, 2010
Reserves $14.517 bln
 









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