Wednesday, December 8, 2021

President Alvi forays to overcome Karachi energy crisis

KARACHI: President Arif Alvi on Saturday extended a helping hand to the alienated businesses to get them out of gas crisis that can stymie economic recovery after coronavirus shutdown.

The assurance was given at a meeting with Shariq Vohra, president of Karachi Chamber of Commerce and Industry (KCCI) at the Governor House.

Alvi was informed about serious gas crisis suffered by Karachi and he assured to take up this matter with relevant ministers and update the business community within a couple of days on what exactly are the causes for gas shortages and what strategies should be needed to deal with the situation, according to a KCCI statement.

“Ongoing gas crisis in Karachi has become a very serious issue that needs to be probed because at a time when the exports are picking up, some elements somewhere in the system abruptly intervene and create gas shortage which has resulted in closure of many factories,” Vohra said in the statement.

“If the gas crisis goes on like this, it would become difficult not only for the exporters to dispatch their shipments on time but also the general industries will not be able ensure smooth supply goods in the local markets.”

Economic activities are fast recovering after months of lag due to lockdown and coronavirus transition. Exports sector that although are showing modest growth is accelerating to grab demand reshuffling from global turbulence.

Having faced contraction last fiscal year, the economy is anticipated to demonstrate recovery, according to international financial institutions.

However, rift between Sindh and federal government and its reflection in economic matters has potential to distance the benefits of the economy’s resilience.

Government, albeit acknowledging the Sindh’s biggest contribution to country’s gas basket, is not ready to keep gas flows in line with the provincial demand according to the law.

Vohra said hardships being faced by the business and industrial community of Karachi due to suspension of gas supply needs to be given special attention and promptly resolved. “Otherwise, the situation would have a serious impact on the industrial performance and the economy, besides triggering massive unemployment and poverty,” he said.

KCCI president said the Karachi Chamber fully supports President Alvi’s initiative to create employment for differently-abled people. Relevant information has already been posted on KCCI’s website while emails and letters have also been sent to KCCI members and a meeting has also been convened for January to discuss the possibilities of employing maximum number of disabled people in various factories and industrial units.

Source: The News

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