FPCCI urges to take serious notice of closure of industries

Karachi (HRNW)- Federation of Pakistan Chambers of Commerce & Industry (FPCCI) urged Prime Minister Imran Khan to take serious notice of closure of industries and take necessary remedial steps in order to avoid further deterioration of socio-economic conditions of in Pakistan.

Expressing concern on the deepening crisis in auto industry of Pakistan, Mian Anjum Nisar, President FPCCI and Sheikh Sultan Rehman, Vice President FPCCI in a statement issued in
Karachi regretted reducing working shifts from 3 to 1 and laying off about 2,000 workers by the auto assemblers, resulting in a massive 60% fall in output.  This will further aggravate the worsening economic conditions and create serious social unrest.

He underscored the need to reduce markup rates in line with regional countries, provide basic amenities like water, power and gas at reasonable rates and create business-friendly policies so that industrialists can focus their attention on increasing productivity and meeting export targets. Mian Anjum Nisar urged the Prime Minister to immediately reduce markup rates and the energy tariffs as it is not possible for our industry to compete with regional countries in the international market.
Mian Anjum Nisar notified that failure to provide a level playing field would seriously undermine the sustainability and survival of our industry, ultimately in increase unemployment and serious law and order situation in the near future.

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