Energy crisis inflicts colossal loss on business

KARACHI: Shaheen Ilyas Sarwana, Acting President of Federation of Pakistan Chambers of Commerce and Industry FPCCI, on Friday expressed grave concern over the worsening situation of energy in all parts of the country, particularly in Karachi, with the onset of summer and resulting in the fallout on trade and industry.

Sarwana noted that it is no secret that Pakistan has been suffering from a serious energy shortage over the past few years, which has inflicted colossal damage on production and business activities throughout the country. However, in the past one week, the energy situation had worsened visibly, which has led to further problems for the business community in meeting export orders and fulfilling their trade commitments.

He said the city of Karachi was today witnessing a surge in load shedding, which had led to unfortunate interruption in business activity. “The industrial areas of Karachi are now facing six to eight hours of load shedding, which is extremely counterproductive, as Karachi is the hub of business activity for the country, and the biggest port of Pakistan.”

“Industrialists were always the first to settle their utility dues with the service provider, and this sector was not indulging in power theft.” Sarwana said that the government must take urgent notice of the situation. He urged all stakeholders, including KESC and SSGC, to resolve the matter of gas supply amicably so that the problems confronting trade and industry could be averted.

He said that the business community of Pakistan was already functioning under severe problematic conditions like bad law and order, cutthroat competition in international markets and a general state of political and social instability. The strain of deterioration in the energy situation would deal a further blow to these conditions, and cause further discontent among the businessmen of the country, he concluded.