Political uncertainty badly hampering economy: PIAF

August 4, 2014 Off By Web Desk

LAHORE: Pakistan Industrial & Traders Associations Front (PIAF) has stressed the need for measures to put an end to the element of political uncertainty which is hitting hard the economy in general and the foreign investment in particular.

Talking to various groups of businessmen, the PIAF Chairman Malik Tahir Javaid, Senior Vice Chairman Khamis Saeed Butt and Vice Chairman Amjad Ali Jawa said that country would not be able to achieve economic target unless and until all the political forces in the country wage a joint struggle to overcome the challenges.

Elaborating the point, the PIAF office-bearers said that almost all the countries that were far behind us in economic terms in sixties are now miles ahead of Pakistan and these countries could achieve this milestone because their people, their politicians and their private sector worked hand in hand and showed a rare maturity in their ranks.

They said that the private sector understands well the shortage of electricity and gas are the major reasons behind the low economic activity but it also believes that the present regime is working in right direction and if continuity in policies is ensured the days are not very far when Pakistan would become a lucrative investment destination.

They said that the PIAF had for a long been now calling for a long term solution to the ongoing electricity crisis and it had reasons to give so much stress on this particular subject. They said that the construction of large water reservoirs in the country would also help government get rid of shortage of gas. He said that presently a huge quantity of gas is being used to produce power and with the completion of hydel projects, the gas thus saved would be available for industrial utilization.

The PIAF leaders said that the hydel projects would not only be providing uninterrupted power supply to the industrial sector but it would also be ensuring availability of cheaper electricity that is a need of the hour.

They said that it was very unfortunate that neighbouring India was fast constructing dams on almost all available sites with jet speed but we could not initiate work on most feasible Kalabagh Dam that has the capacity to cater to a major portion of our needs.

They said that “we should identify the anti-Pakistan elements in our ranks which always put hurdle to this mega project of vital national importance. Had the dam been completed a few years back the size of the economy would have been double today.”

They were of the view that there was also a need to promote research culture in the country as a large number of problems could not be resolved so far because of unavailability of true data of the various sectors of the economy.

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