Pakistani Business Leaders Say Energy Crisis Has Industry "On The Brink Of Collapse"

[hatrack]

LAHORE-The country’s leading industrialists and businessmen on Wednesday said that the industry is on the verge of collapse due to worst-ever energy crisis which may lead to economic turmoil in Pakistan as the present govt has badly failed to stabilise the economy.

The All Pakistan Textile Mills Association (APTMA) has decided to stop investment in Punjab due to the energy crisis while the Pakistan Industrialists and Traders Association Front (PIAF) has set 48-hours deadline for the Punjab govt to improve the situation ,otherwise, they would be left with no other option but to march towards Governor’s House. ‘We have advised all our members to immediately stop the investment in Punjab due to worst energy crisis. We don’t have any other option but to change our strategy and shift the business to other countries preferably UAE’, Sheikh Akbar, Chairman APTMA Punjab, told reporters during a hurriedly called Press conference at the APTMA Headquarters on Wednesday.

On the other hand, the President Lahore Chamber of Commerce and Industry (LCCI) Muhammad Ali Mian while strongly criticising the attitude of the top management of Sui Northern Gas Pipelines Limited (SNGPL), said that both the industrial and commercial sectors are on the verge of collapse due to the worst-ever energy crisis. ‘At least 6000 industrial units have stopped their operations while many more are on the way, rendering thousands of daily-wagers jobless’, Muhammad Ali Mian accompanied by leading industrialists and businessmen told reporters at a news conference here at the LCCI.

Vice President Shafqat Saeed Piracha, Chairman PIAF Mian Abuzar Shad, Kh Shahzad Nasir, Chairman All Pakistan Canvas and Tent Association, Sh Riaz Ahmad, Chairman All Pakistan Textile Processing and Printing Association and a number of representatives of associations were also present on this occasion. He said that the attitude of SNGPL top management towards the industrialists is very awkward. The LCCI President said that the SNGPL during a meeting with LCCI promised to restore the supply of gas to at least 1,200 small and medium industrial units but despite lapse of three days, the gas supply has not been restored even to a single unit.
He said that it seems that the SNGPL authorities are least interested in giving priority to the industry of the country.
He said that if the situation remains the same for quite sometime the economic turmoil would turn so grave that it would be unmanageable.

EDIT

http://www.nation.com.pk/daily/feb-2008/7/index4.php

[Tashca]

1. I'm still not sure I get it.

I read this article....Is the Natural gas being sold elsewhere for profit instead of the textile industry getting it? Talk about a way to create chaos.