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US urged to help overcome energy crisis

Azhar Saeed Butt, chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Punjab Region, has urged the United States to help overcome the energy crisis, as industry is on the verge of collapse.

A three-member American fact finding mission headed by Robert Kemp, political and economic officer, visited the FPCCI Regional Office Lahore on Thursday and held a detailed discussion with Butt on the matters of mutual interest and the economic issues of Pakistan.

Butt said that Pakistan is passing through critical time. “Industry is sinking due to the energy problem. We have to generate economical electricity and gas to run our industry. Iran gas pipeline is the most beneficial for our economy. We should generate electricity from other sources but that is more costly and time consuming,” he said.

Other main factors, which are hitting the economy, are the war on terror and sluggish economy.

Butt said that India should be a big market for Pakistani products; however, nontariff barriers are the main hurdle.

“We require economic and political stability, which can be possible with the cooperation of friends. America should adopt equal policy in this region to make Pakistan stable,” he said.

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