Karachi: President of the SITE Association of Industry (SAI) Abdul Rehman Fudda, on Friday urged the government to introduce immediate relief measures for the industrial sector, as rising production costs, expensive energy and policy uncertainty are putting the survival of industries at serious risk.
In a statement, SAI president said a strong industrial base is indispensable for boosting exports, creating employment, attracting investment and ensuring sustainable economic growth. He cautioned that unless the challenges confronting manufacturers are addressed without delay, Pakistan’s economic recovery could lose momentum while fresh domestic and foreign investment may continue to decline.
He noted that escalating electricity and gas tariffs, increasing production costs, high financing expenses could undermined industrial activity. Despite these challenges, he said, the business community continues to keep the wheels of the economy moving.
The SITE chief demanded of the government to ensure the supply of energy at competitive tariffs, simplify the tax regime, expedite the payment of pending refunds, improve the ease of doing business and introduce investor-friendly policies. Such measures, he said, are essential to enable Pakistani manufacturers to compete effectively in international markets and strengthen the country’s export performance.
Fudda stressed that Pakistan’s industrial sector possesses enormous untapped potential, but this can only be realised through policy continuity, meaningful consultation with the private sector and timely pro-industry decisions.
He reaffirmed the industrial community’s commitment to supporting economic stability and national development.