Traders fret over forceful closure of industrial units
Factories being sealed by govt authorities for consuming furnace oil
Factories being sealed by govt authorities for consuming furnace oil. PHOTO: FILE
LAHORE:
The Lahore Chamber of Commerce and Industry (LCCI) has expressed grave concern over the sealing of industrial units utilising furnace oil without prior intimation and has called for immediate restoration of operations at such units.
In a statement, LCCI Acting President Khawaja Shahzad Nasir and Vice President Faheemur Rehman Saigal noted that the chamber had received complaints that industrial units were being sealed by the authorities without any prior notice for consuming furnace oil in their plants.
“Furnace oil is a costly source of energy and a major reason for the high cost of doing business,” they added. “If it is being used by the industrialists, it means that they have no other option left for running factories in the absence of natural gas.”
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In addition to that, the LCCI office-bearers stressed that businessmen should be treated as partners of the state because the national economy could not grow without their vibrant role.
“They are making a huge contribution to the country’s economy and are also playing a unique role,” they remarked.
“No country can even dream of GDP growth without participation of local investors in economic activities,” they emphasised while expressing fear that unsympathetic action against the industrial sector would leave foreign investors disappointed.
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The LCCI office-bearers demanded that the industrial sector should be given some time to resolve its issues instead of forcefully shutting down the industrial units.
They argued that such a practice would deal a heavy blow to efforts of the government aimed at promoting investment in the country.
“How can one even speculate to attract more foreign investors when domestic investors are struggling,” they asked and called on the government to give breathing space to the private sector.
They demanded that the government take notice of the situation and consider giving sometime to the industrial sector for compliance with the directive.
The Lahore Chamber of Commerce and Industry (LCCI) has expressed grave concern over the sealing of industrial units utilising furnace oil without prior intimation and has called for immediate restoration of operations at such units.
In a statement, LCCI Acting President Khawaja Shahzad Nasir and Vice President Faheemur Rehman Saigal noted that the chamber had received complaints that industrial units were being sealed by the authorities without any prior notice for consuming furnace oil in their plants.
“Furnace oil is a costly source of energy and a major reason for the high cost of doing business,” they added. “If it is being used by the industrialists, it means that they have no other option left for running factories in the absence of natural gas.”
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In addition to that, the LCCI office-bearers stressed that businessmen should be treated as partners of the state because the national economy could not grow without their vibrant role.
“They are making a huge contribution to the country’s economy and are also playing a unique role,” they remarked.
“No country can even dream of GDP growth without participation of local investors in economic activities,” they emphasised while expressing fear that unsympathetic action against the industrial sector would leave foreign investors disappointed.
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The LCCI office-bearers demanded that the industrial sector should be given some time to resolve its issues instead of forcefully shutting down the industrial units.
They argued that such a practice would deal a heavy blow to efforts of the government aimed at promoting investment in the country.
“How can one even speculate to attract more foreign investors when domestic investors are struggling,” they asked and called on the government to give breathing space to the private sector.
They demanded that the government take notice of the situation and consider giving sometime to the industrial sector for compliance with the directive.