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Showing posts with label LCCI). Show all posts
Showing posts with label LCCI). Show all posts

Sunday, August 3, 2014

Business leader regrets longest-ever Eid holidays

Mr Ismail Sattar, President LCCI
By Syed Sajid Aziz
(Pakistan News & Features Services)


“Due to one of the longest ever holidays’ spell during Eid-ul-Fitr, the country has remained cut off from the rest of the world for the whole week having halting all kind of trade and exports with foreign countries.”



This was stated by Ismail Sattar, President, Lasbela Chamber of Commerce and Industry (LCCI), and Vice President, Federation of Pakistan Chambers of Commerce and Industries (FPCCI). He regretted that due to these long and unnecessary holidays the country has had to bear an irreparable monetary loss.



While commenting on the long spell of Eid Holidays together with weekly holidays, the LCCI President said that due to these nine-day holidays, the industrial and commercial activities were stopped thus rendering heavy losses to the national exchequer, besides no contact with international business community for more than a week, which is not desirable for a country like Pakistan, whose economy is already in oxygen tent.



He argued that if taken one day’s exports as $71 million on the basis of Pakistan’s total annual exports of $26 billion, we have lost over $356 million in just five days.



“The government has made it a precedent to declare long holidays just to please government employees who already do not have tendency to work honestly,” Ismail Sattar observed.          



He also pointed out that due to these long holidays, the public resorted to unhealthy activities causing great losses, as was evident from the tragic incidents at the Sea View Beach in Karachi and the terrible traffic jams at Murree and other big cities.


The business leader urged the power-corridors in Islamabad to refrain from allowing such a long spell of holidays, which the nation cannot afford both economically and socially, as the public resorts to unhealthy practices in the name of entertainment, which the local administrations of big cities are not fully equipped to cope with such abnormal public activity thus causing great losses of life and property.