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Recovery of Rs600 be expedited: LCCI underlines system upgrade to curb energy crisis

Recovery of Rs600 be expedited: LCCI underlines system upgrade to curb energy crisis

LAHORE: The government should upgrade the system as par with the international system to ensure adequate and indiscriminate supplies to industry across the country.

Lahore Chamber of Commerce and Industry (LCCI) President Ijaz A Mumtaz said that energy crisis had spoiled the investment scenario in the province and had forced the forced the existing industrial units to curtailed their productions. He said that the Punjab was hub of the industrial activities and unavailability of gas and electricity for the Punjab industry was a serious threat to GDP growth.

He said that by bringing power and gas distribution losses to international level the supplies could be substantially increased. He said currently the distribution loses range from 9 percent in Islamabad Electric Supply Company to over 35 percent in Sukker Electric Supply Company. As a first step he added the government should make the company with lowest line loses as benchmark and ask all power utilities to bring down the loses to that level within a month. At the same time he added over Rs600 billion recoveries of power dues should be made on war footing to improve liquidity in the power system.

He said acute electricity and gas shortage has not only crippled the trade and industry but has also brought widespread unemployment and poverty. He said that Punjab contributes nearly two thirds to the GDP of Pakistan. Yet he regretted Punjab is being made the worst victim of injustice.

The LCCI President said that the government should understand that economic well being is a must for democracy. Unemployment, industrial closures always gives birth to lawlessness and anarchy. Therefore, the government should understand the ground realities and reset its priorities regarding provision of gas and electricity to the industry.