HYDERABAD: The Hyder­­­­­abad Chamber of Commerce and Industry (HCCI) on Thursday urged the Sindh government to lift business hours restrictions, stressing that trade and businesses are nearing bankruptcy amid rising power prices and depreciating rupee.

In a statement, HCCI President Adeel Siddiqui said, “Businessmen and traders are following the business restrictions schedule of the Sindh government as desired amid high electricity, petrol and gas tariffs. If curbs on business timings are not lifted, then businessmen would face bankruptcy and, consequently, the government would not be able to meet its revenue collection targets.”

The HCCI president stated that crude oil prices, which had been rising in the international market, are now lower in the international market and hence making the balance of payment easier.

Due to the water shortage in the river system, hydropower plants were not functioning properly. He said with recent rainfall cycles, these power plants would, however, now start producing electricity and this would cover the gap in demand and supply of electricity.

He urged the government to facilitate the business community so that Pakistan could progress, adding that the same business community had stood with the government in difficult times. Now, he said, it was the government’s turn to understand the traders’ and business community’s issues.

He appealed to the prime minister and provincial chief minister to lift restrictions on timings so that businessmen could work comfortably, which was even otherwise their fundamental right. He said it was necessary for economic stability that the government should increase exports and encourage foreign investment in the private sector.

Published in Dawn, July 15th, 2022