KARACHI: Industrialists and businessmen have urged the government to take back the cabinet decision to follow a two-day holiday in a week saying it will further slowdown the already sluggish economic growth in the country.
The Cabinet on Wednesday approved the decision for a two-day holiday in a week but the decision will be implemented after the approval of Council of Common Interest (CCI).
The government is under pressure on its power policies and recently opposition-led protests have pushed government to quickly take decisions on power sector issues.
In case the government thinks the two-day holiday is indispensable, the government should exempt those institutions that have direct links with the economy like customs and banks, said Ehtesham uddin, Chairman, Korangi Association of Trade and Industry.
The exports of the country have already shown a decline last month and in these conditions, the two-day holiday will certainly affect the industrial output of the country which is not in the country’s interest, he said.
Muhammad Irfan Moton, Chairman, SITE Association of Industry Karachi, said “we oppose the two-day holiday in a week at any cost because it increases our cost of production and reduces our production output”.
This will reduce one working day and if someone wants to continue industrial production on an off day, he would have to pay overtime to his workers, which is a big burden on the industry that is already crippling, he said.
Karachi Chamber of Commerce and Industry President Mian Abrar Ahmad also rejected the proposal of five-day working week.
Published in The Express Tribune, October 13th, 2011.