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LCCI concerned over energy crisis

The office bearers of the Lahore Chamber of Commerce and Industry expressed their concerns on Thursday over prolonged power outages and demanded the government to ensure equitable power cuts throughout the country.

The Punjab has lost almost two percent of its GDP, which is equal to a net loss of Rs 200 billion with a closure of 40 percent of the industry, while another 10 to 15 percent are on the verge of closure if the federal government fails to address the energy crisis.

The industry needs a continuous supply of electricity to keep its units operational and fulfill export orders within a given timeframe, but the exports are not up to mark due to power outages. Cheaper and uninterrupted power supply is the only way to achieve the economic targets set for FY13 but the government has neither shared its future plans in this regard nor paid any heed to the difficulties being faced by the trade and industry.

A number of industrial units have already reduced their working to single six-hour shift from the previous three shifts. This had led to increased level of raw-material wastage leaving the production process non-profitable. Leading industrial units are now witnessing losses, despite being managed professionally.

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