AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, June 26, 2012 (PPI-OT): The Lahore Chamber of Commerce and Industry Tuesday appreciated the government decision to suspend 700 MW electricity supply to Karachi Electric Supply Company (KESC) and divert it to Punjab to overcome power crisis.
In a statement issued here, the LCCI Acting President Kashif Younis Meher and Vice President Saeeda Nazar said that the government decision to give 700 MW electricity to Punjab will help revive economic activities in the province as due to an acute shortage of electricity it was the trade and industry that suffered badly.
The LCCI office-bearers said that the provision of additional electricity would also help stem power riots that have become the order of the day in different parts of the province.
The LCCI office-bearers, however, suggested to the government to give priority to the trade and industry as far as supply of electricity is concerned as the low productions phenomenon has taken hostage the export oriented industry thus depriving the country of much-needed foreign exchange.
They said that the private sector is the engine of growth and it is provided a conducive atmosphere with uninterrupted power supply the economy would make a speedy turnaround. The LCCI office-bearers said that the Federal Minister for Water and Power Ahmed Mukhtar has taken a wise decision by cutting 700 mega watts of electricity to Karachi Electric Supply Company and divert it to Punjab.
The LCCI office-bearers also welcomed the Federal government decision to reduce unscheduled load-shedding as unannounced power cuts were mainly disturbing the industrial sector which was unable to streamline the manufacturing processes.
They said that the industry needs a continuous supply of electricity to keep the units operational and to complete the export orders well within the given timeframe but only because of the shortage of electricity the exports are not up to the mark.
They said that Pakistan had already lost a number of international markets and the new longer hour power cuts had further aggravated the situation. They said that cheaper and uninterrupted power supply is only way to achieve economic targets set for the year 2012.
They crisis in industrial sector was not only causing the flight of capital and relocation of industrial units to the countries like Bangladesh and Malaysia but had also reduced government revenues drastically.
For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854