PRGMEA opposes long Eid holidays’ decision

Says it can cost the nation billions in external trade

LAHORE:

Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Mubashar Naseer Butt has expressed his disapproval of the government’s decision to give five days off during Eid. He warns that the extended break will have a significant negative impact on the country’s economy, causing a loss of billions of rupees in exports.

“The government’s decision to allow for five holidays during Eidul Fitr, which will possibly be extended further, will leave Pakistan disconnected from the world for almost a week,” said Butt.

“The long closure of banks will lead to delays in opening Letters of Credit (LCs) and making payments, creating problems for the trade and industry as well as the common man,” he said, adding that the ATM system is not efficient and might aggravate the liquidity problem.

Keeping in view the current economic situation, Butt urged policymakers to adopt a pragmatic approach that suits the national interest.

“The government has made it a precedent to declare long holidays to please government employees, who already do not have a tendency to work seriously,” lamented the PRGMEA chief. He urged policymakers to refrain from allowing such an extended spell of holidays, which would only hurt the country’s economy both economically and socially.

Published in The Express Tribune, April 15^th, 2023.

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