Pakistan Business Forum (PBF) Vice Chairman for Khyber-Pakhtunkhwa Muhammad Ashfaque Paracha has urged authorities to take effective measures to revive sick industrial units and also solve the problems being faced by industrialists in the province.
He said that steps should be taken to resolve the issues facing the industrialists in the industrial estates falling under the KP Economic Zones Development and Management Company and the Small Industries Development Board.
The PBF vice chairman was given a detailed briefing by officials of the Nowshera Industrial Zone about the steps taken so far for resolving the problems of industries established across the province.
Paracha pointed out that high cost of doing business had already proved to be dangerous for the trade and industry as the ever-increasing cost of production was the real threat to the economy amidst frequent upward revisions in the policy rate and continuous fluctuation in the rupee’s value against the US dollar.
He demanded that the government shut down all expensive oil-based power plants to ensure the availability of cheaper energy for consumers.
“The government may avoid shifting the burden of power distribution companies’ inefficiencies to consumers by jacking up tariffs under the guise of fuel charges adjustment.”
Published in The Express Tribune, August 18th, 2023.
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