Pakistan Industrial and Traders Association Front (PIAF), Chairman, Sohail Lashari, has said that the government has miserably failed to tackle the economic challenges including power outages, repeated hikes in electricity rates, gas shortage, rupee devaluation, price spiral, mismanagement and bad governance.
He was talking to a delegation of Lahore Township Industrial Association (LTIA) led by Chairman Iftikhar Bashir, he stressed the need for taking up these issues on priority basis. Delegation briefed the PIAF Chairman that more than 350 industrial units, including food processing, ghee, rubber, plastic, textile, dying, engineering, chemical, pharmaceutical, steel and auto-parts are operational in the Township of Industrial Area, have curtailed their productions due to non-availability of gas. Entire trade and industry is suffering due to disruptions in production processes, he said.
He said that the government should start working on mega water projects. "Unless and until dependence on thermal power is curtailed, there is hardly any chance of economic revival while precious foreign exchange is being spent on the oil import", he added. The PIAF Chairman also stressed the need for bringing down the fast escalating rate of inflation that has now started taking its toll. If government fails to take appropriate measures for the economic revival, the trade deficit will touch the new heights, he added. He demanded the Prime Minister, Federal Minister for Water and Power, Lesco and SNGPL authorities to ensure uninterrupted electricity and gas supply to the units of Lahore Township Industrial area.