Sialkot, March 06, 2023 (PPI-OT): On March 06, 2023, Mr. Abdul Ghafoor Malik, President of SCCI in a statement given to the press expressed his deep concern over the withdrawal of the Regional Competitive Energy Tariff/Rate for Five Exports Oriented Sectors. He said that such a stern decision would further discourage the growth of the export industry and shut down the wheel of industry.
Mr. Malik was of the view that such sudden policy shifts are taken without giving due consideration to the ground realities and the negative impacts on both end-users and the manufacturing sector and termed the withdrawal as a roadblock towards sustained economic growth.
He said that the manufacturing cum export sector of Pakistan was already facing several challenges including but not limited to a volatile money market, skyrocketing prices of raw materials, and high freight charges. He said that the decision would only aggravate the situation, resulting in a great blow to the export Industry, rendering it impossible for the industry to compete in the international market given the prevalent cutthroat competition. The President Chamber mentioned that the small and medium-tier exporters did not have access to alternate energy sources and would face severe economic consequences due to the withdrawal of regionally uncompetitive tariffs.
The President of SCCI also mentioned that the exporters of Pakistan are making their best efforts to sustain the business and exports of Pakistan, but the proposed decision of increasing the energy tariff will result in an unavoidable loss of market share globally. He also shared that India, Bangladesh, and Vietnam were offering 8 cents, 10 cents, and 6 cents respectively. Mr. Abdul Ghafoor Malik, President of SCCI urged the government to reconsider its decision and consider the impact it would have on the exports and the country’s economy as a whole.
For more information, contact:
Sialkot Chamber of Commerce and Industry (SCCI)
Shahrah-e-Aiwan-e-Sanat-o-Tijarat, Sialkot – 51310, Pakistan
Phone: +92-52-4261881-3
Fax: +92-52-4268835, +92-52-4267919
E-mail: sialkot@scci.com.pk
Website: http://www.scci.com.pk