LCCI urges govt to complete energy projects

Power cuts impeding production, affecting exports.

LAHORE:

The Lahore Chamber of Commerce and Industry has urged the government to complete the water and hydropower energy projects at its earliest as the shortage is hampering industrial production and is a serious threat to economic growth.

LCCI Acting President Mian Tariq Misbah said that energy was the engine of growth, and its sufficient availability is a must to achieve the required GDP growth rate and targets for the Financial Year 2014-15. “Economic well-being is a must for democracy,” said Misbah. “Unemployment, price-hike, industrial closure always gives birth to lawlessness and anarchy. The government must understand ground realities and reset its priorities regarding provision of electricity to the industry.”

He said private sector in developed countries is facilitated to the maximum but in Pakistan circumstances were the other way round. Horrid power cuts were impeding export-oriented industrial production and if the situation persists, the dream of enhancing exports would become impossible and ruin foreign investments. It would also adversely affect competitiveness of Pakistan merchandise in the international market.

He warned the government of massive lay-offs and industrial closures if it fails to immediately stop power outrages. Continuous supply of electricity is must to keep the units operational and complete orders within time. Early completion of these projects would not only ensure cheap and sufficient electricity but also diminish water shortage which is currently a challenge for agro-based industry.

Published in The Express Tribune, June 22^nd, 2014.

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