Country loses 3pc GDP due to energy crisis

LAHORE - The LCCI President Irfan Qaiser Sheikh has urged the students to do their best in bringing good name to the motherland that has been facing multiple challenges for the last many years.
Addressing the MBA students at Jinnah Islamia College of Commerce, Irfan Qaiser Sheikh said the students were the asset of a nation and expressed the belief that if given proper educational environment, they could bring laurels to the country in all fields.
The Chairman Jinnah Group of Islamia Colleges Yousaf Mughal also spoke on the occasion. The LCCI President called upon the students, to work hard and focus on achieving education to ensure a bright future for Pakistan.
The LCCI President said that the young generation had high stakes in the country's future and could be regarded as the future leaders therefore they should work tirelessly and concentrate on their education so that they could serve the nation.
The LCCI President while giving a detailed review of ongoing economic scenario said that the government failure to tap country’s potential is to be blamed for the economic downturn. He said that only because of electricity and gas shortage the country last year lost 3 per cent GDP growth. “Had a little attention been given towards the provision of gas and electricity to the industry the country’s growth would have been phenomenal.” He said that the situation was so deplorable that in one part of the country, the industry was getting uninterrupted gas while in the other part there is no gas for the industry. He said that the business community was unable to understand that why no policy has so far been evolved to tap 175 billion tons of Thar coal reserves that could produce 25000MW to 30000 MW of electricity for hundred years.
Talking about Pak-India trade, the LCCI President said that there was no second opinion about it that the opening of trade would pose new challenges to the local industry but definitely it would also be opening up new opportunities as well.
Irfan Qaiser Sheikh said that the government should focus on development of human resource that could help bring economy back on rails. He also urged the students to give attention towards IT sector as neighbouring India is earning 35 billion dollars through IT related exports.

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