The Chairman of the PTA, Agha Saiddain, stated that the revenue minded government has focused all its abilities for collection of revenue and no attention is paid for industrial growth or to boost exports.

He said that present government has failed to introduce export-friendly policies and this may cause serious setback to the country as the value of the rupee has already slipped by more than 8.5% in the last three months.

Agha Saiddain said policymakers seem to think that industry can survive even after such an increase in electricity bills. He said that most of the industry is either running at a loss or operating with very thin margins.

The present increase in the electricity tariff will force industrialists to shut down their operations. Many people have stopped industrial activities and have started real-estate business. Some of the units have shifted their operations to other countries. The trend is disastrous and may cause even more serious unemployment in the country.

He urged the government to immediately withdraw the decision to increase the electricity tariff to prevent the nationwide strikes many trade bodies and chambers of the country have been warning of.

Source: The International News