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Delay in trade policy causing uncertainty

Delay in trade policy causing uncertainty

LAHORE: Pakistan Industrial & Traders Association Front Chairman Irfan Iqbal Sheikh has asked the government to announce the trade policy without any further delay.

He said that the delay is creating uncertainty and problems for the country’s industry and the export sector. Prime Minister Nawaz Sharif had promised to announce the Strategic Trade Policy Framework (STPF) package a few months back, but the government is unable to understand the urgency, he said.

Delay in taking decisions often cost the people and the economy heavily, as industry is in bad shape, particularly the export-oriented industry, which is struggling for its survival, he said.

PIAF chairman also hailed Prime Minister’s recent announcement for reducing Rs 3 per unit in power tariff for industrial units, but demanded early implementation of it because power distribution companies are still issuing power bills on previous calculations.

He said the prime minister’s road plan should reduce energy shortage and problems faced by the business community and it will help the industrial sector to achieve its production targets.