KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo Wednesday said that the incumbent federal government has no capability to make timely decisions.
Expressing disenchantment over the ongoing gas crisis, the FPCCI President asked the Federal Minister for Energy Hammad Azhar to resign from his position, if he fails to make timely decisions. Addressing at a media briefing at Federation House, Maggo said despite the Covid-19 pandemic, the FPCCI has done great work in his ongoing tenure. He said due to his efforts, the federal government resolved around 75 percent of budget anomalies of FPCCI in FY22.
He rejected allegations by his opponents about embezzlement of FPCCI’s funds during his tenure.
“We have established the Policy Advisory Board (PAB) under the chairmanship of former federal secretary Muhammad Younus Dagha,” Maggo said. The PAB has published three research-based papers that include ‘unfair power tariff for trade and industry – Impact of Cross-Subsidization, ‘Assessment of Monetary Policy Effectiveness in Pakistan’ and “Prospects of Cryptocurrencies a context of Pakistan.
The FPCCI President recalled that it was his vision from the very first day that he assumed the charge of FPCCI’s presidency for the year 2021 to establish a professionally-managed economic research cell for which he worked hard towards it whole-heartedly despite all the impediments and divergent opinions.
Criticizing the PTI-led government, the Maggo said that benefits from reduction in oil prices in the international market could not be passed on to people in Pakistan. Talking about the ongoing gas crisis in the province, he said that Sindh produced 2,310mmcf gas while just 900mmcf gas was being provided to the province.
Senior Vice President FPCCI Khawaja Shahzaib Akram also spoke on the occasion.
Copyright Business Recorder, 2021