Talking to the media here on Thursday, leading Sialkot-based industrialists and exporters, however, said increase in petroleum product prices would add to the cost of industrial production, which was already under pressure because of high electricity and gas tariffs.
They said the only beneficiaries were oil marketing companies whose profit margins would increase and this was being done at the cost of business, trade and ordinary people.
They pointed out that the industry was forced to consume oil to run power generators during long hours of electricity outages, adding this disturbed the production schedule and delivery of goods to importers.
Portraying a worst-case scenario, they said the ultimate effect of this harsh situation would be closure of industry, flight of capital, massive unemployment and decline in government revenues.
They asked the government to lend support to the business and industry, rather than continuously increasing petroleum product prices.
The industrialists also pointed to the lack of communications links and least focus on marketing of goods in the big emerging market of Brazil.
Popular products made by Sialkot which could attract the attention of importers included sports goods, surgical instruments, leather products, martial art uniforms and accessories, cutlery items and others.
Describing Sialkot as the only export-oriented city, they said it was a unique area enriched with a historical background and a strong industrial base.
Published in The Express Tribune, November 11th, 2011.
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