FAISALABAD: President Asif Ali Zardari has emphasized the need to resolve the Independent Power Producers (IPP) issue through consensus among all stakeholders.
During a meeting with the business community of Pakistan, President Zardari proposed forming a committee of business leaders to critically analyze the situation and submit workable recommendations. He assured that his office would fully cooperate with this committee to find a win-win solution for all stakeholders.
Dr. Khurram Tariq, President of Faisalabad Chamber of Commerce & Industry (FCCI), highlighted the severe impact of high electricity costs on industrial units, leading to closures and job losses. He stressed that charging for electricity never produced by the IPPs was unjustifiable.
Dr. Khurram urged President Zardari to intervene, emphasizing the urgent need to resolve the issue to prevent further economic decline. He noted that Faisalabad’s contribution to Pakistan’s textile exports had dropped from 60% to 45%, and continued to decrease. To achieve the government’s ambitious target of $60 billion in exports, Dr. Khurram recommended reducing the cost of doing business and ensuring the availability of raw materials through a favorable business ecosystem. He called for timely decisions to save the economy from collapse.
