Massive loadshedding cripples economic activities

The Chief Minister Senior Assistant for Political Affairs said that government has failed to achieve even the revised export target of $19.2 billion due to its illogical policies while foreign investment has also registered huge decline.
Mohammed Pervez Malik said that energy is the major source of growth but due to lack of management and concentration, growth of economy has become sluggish. He said that energy prices are highly correlated to the economic growth and high power tariff always leads to raise the cost of production, increase in the prices of finished goods and make them uncompetitive in the international market.
He said that at a time when the whole industry was suffering due to energy crisis and high cost of doing business, the raise in electricity prices would give a further blow to the economy. He urged upon the government to come out of the influence of International Financial Institutions, stop following their orders and make efforts to enhance the cheap electricity production. He said that government shouldn’t even think to increase the power tariff as electricity prices are already touching the alarming levels.