Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has called on the government to announce a comprehensive winter package aimed at supporting trade and industry amidst ongoing challenges in industrial production. He emphasized the necessity for facilitation, incentivization, and cost-cutting measures to enhance competitiveness in export markets and achieve export targets.
According to Federation of Pakistan Chambers of Commerce and Industry, the primary demand is for a reduced electricity tariff of Rs. 20 per kWh for export-oriented industries. Currently, electricity costs are a significant burden on production and doing business in Pakistan, particularly when compared to regional and international competitors.
Mr. Sheikh warned against conditional eligibility criteria linked to incremental gas consumption, as implemented last year, which left many export industries disadvantaged due to a lack of gas supply connections. He advocated for an unconditional winter package, ensuring all export-oriented industries have equal access, thus promoting exports, employment, and economic growth.
He reassured the government of the trade and industry’s commitment to partnering in promoting Pakistan’s economic growth and export competitiveness. He outlined the mutual benefits of supporting industries, including substantial export growth, import substitution, increased foreign exchange reserves, rupee-dollar parity stabilization, and current account deficit control.
Mr. Sheikh also reiterated the FPCCI’s call for renegotiating power purchase agreements on a take-and-pay basis, revitalizing the privatization process of PIA, reducing the key policy rate to single digits, and implementing macroeconomic policies that promote business ease and policy consistency. He highlighted FPCCI’s Vision 2030 to achieve $100 billion in exports, contingent on governmental support.
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