KARACHI: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zakaria Usman applauded the decision of government for zero load shedding to industries throughout the country, which would help increase their production and achieve their exports related targets.
“It is a wise decision of government which will provide some relief to the manufacturing sector which is severely affected due to bad law and order situation, high interest rate and long and unannounced load shedding. The manufacturing sector growth has now started recovering, but it is still lower due to high manufacturing cost and lower banks credit to private sector,” he said.
He also appreciated that this decision of government would not affect the domestic consumer because government had increased its power generated capacity. He hoped that the continuity in the power policy of government would definitely help in near future to alleviate the complete load shedding and boosting economic activity. He further added that the survival of the country only depended on sound economy, which needed peaceful atmosphere, better law and order and business friendly environment.
Usman also appreciated the decision of SBP to reduce 0.5 bps in interest rate. He termed that reduction in interest rate, removal of load shedding and decline in oil price will definite improve the business environment and reduce the cost of doing business. All these steps of government will definitely encourage the investors to make investment; which is need of the time.
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