Karachi: Mr. Mohsin Aziz, Chairman, All Pakistan Textile Mills Association (APTMA) commenting on the decision of the government to observe two weekly holidays to overcome increasing electricity shortfall said, that the first test will be if the saving is converted into reduced load-shedding and the subject saving is provided to industry specially textile which remains to be not only labour as well as capital intensive but is also an export earner for the country.
The other test would be to make sure that the office hours remain as notified and observed in letter and spirit.
However, the main concern is the decision to close banks and ports as it would increase the cost of doing business as banks and business houses will remain cut off and ineffective during these additional holidays with the rest of the world.
Therefore it is of prime importance that for Saturdays banks should remain open for atleast half-day and so is the case with the ports authorities as their closure will not only delay shipment of export consignments and import consignments would also incur demurrages and without banking transactions the whole economy will enjoy two days holiday that under developed countries like Pakistan can ill afford.
This decision also negates the policy of fair transactions through banking channels and will further encourage malpractices. Chairman APTMA said that the present decision will retard the economic activities.
For more information, contact:
All Pakistan Textile Mills Association
APTMA House, 44-A,Lalazar,
Off: Moulvi Tamizuddin Khan Road,
Karachi -74000, Pakistan.
Web Site: www.aptma.org.pk