LAHORE - The business community Tuesday appreciated the government decision to suspend 700 MW electricity supply to Karachi Electric Supply Company (KESC) and divert it to Punjab to overcome power crisis. However, they asked the government the diversion of 700MW should be permanently to ensure the equitable distribution of power and a long-term solution of loadshedding in Punjab.
They said that the private sector is the engine of growth and it is provided a conducive atmosphere with uninterrupted power supply the economy would make a speedy turnaround. In a statement issued here, the LCCI Acting President Kashif Younis
Meher and Vice President Saeeda Nazar said that the Federal Minister for Water and Power Ahmed Mukhtar has taken a wise decision by cutting 700 megawatts of electricity to Karachi Electric Supply Company and divert it to Punjab.
The LCCI office-bearers also welcomed the Federal government decision to reduce unscheduled load-shedding as unannounced power cuts were mainly disturbing the industrial sector which was unable to streamline the manufacturing processes. They said that the industry needs a continuous supply of electricity to keep the units operational and to complete the export orders well within the given timeframe but only because of the shortage of electricity the exports are not up to the mark.
They said that Pakistan had already lost a number of international markets and the new longer hour power cuts had further aggravated the situation.
They said that cheaper and uninterrupted power supply is only way to achieve economic targets set for the year 2012.
They crisis in industrial sector was not only causing the flight of capital and relocation of industrial units to the countries like Bangladesh and Malaysia but had also reduced government revenues drastically.