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Demand for reduction of energy prices to boost exports

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Demands to boost exports
Demands to boost exports

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the government to cut electricity and gas rates for the industrial sector in order to boost employment, production and exports. “The high cost is hitting production and exports, therefore, the government should immediately cut electricity and gas tariffs to stabilise the economy,” said FPCCI President Zubair Tufail.

In his statement he said that the immediate decrease in energy prices will help the textile industry to enhance international competitiveness of the Pakistan textile products. In this manner he suggested that the government of Pakistan should spare some resources and take immediate decision to control the decline in exports, which had created many problems for the country, he added.

He further said that the main reason for competitive disadvantage and the dismal performance of the export sector was the much higher energy prices for Pakistani exporters compared to those of neighboring and regional countries, he said.