Lahore: Vice President of the Lahore Chamber of Commerce & Industry Syed Mahmood Ghaznavi has urged the government to complete all power projects on war footing as energy crisis has crippled the economic activities.
In a statement issued here, the Syed Mahmood Ghaznavi said that prolonged power outages in the industrial areas are jacking up the graph of unemployment particularly hitting the daily wagers hard.
The LCCI Vice President said that the most of industrial units had already reduced their working hours. This had led to increase level of raw-material wastage, making production process non-profitable. Now the leading industrial units were experiencing losses despite being managed professionally.
Syed Mahmood Ghaznavi said that the shortage of electricity had already caused flight of capital and relocation of industrial units to the countries like Bangladesh and Malaysia besides reducing government revenues drastically.
He said that the government should share its energy plan with the Lahore Chamber of Commerce & Industry as power outages have crippled both the trade and industry.
The LCCI Vice President said that the government should understand that economic well being is a must. He said that Unemployment, price-hikes, industrial closures always give birth to lawlessness and anarchy. Therefore, the government should understand the ground realities and reset its priorities as far as power generation is concerned.
He said that the consumers of the efficient distribution companies with lowest line losses and the highest recovery ratio are being treated unfairly.
He said the private sector was engine of the growth and in the developed countries it is facilitated to the maximum but in Pakistan circumstances are quite the other way round.
He also urged the government to complete water and hydropower projects in the shortest possible time as the energy demand is growing with every passing day.