FPCCI Condemns Quetta Blast Economic and Social Aftershocks Need to Be Proactively Tackled Qurrat Ul Ain, Acting President, FPCCI Karachi: Ms. Qurrat Ul Ain, Acting President FPCCI, has condemned, in strongest possib

Karachi: Ms. Qurrat Ul Ain, Acting President FPCCI, has condemned, in strongest possible
terms, the horrific and dreadful bomb blast at the railway station in Quetta – which took 26
precious lives and seriously injured at least 62; of which many are in critical condition. Many of
the injured have been permanently disabled; and, they will not be able to work again, she added.

Mr. Atif Ikram Sheikh apprised that the primary demand of FPCCI is Rs. 20 / kWh electricity tariff for
export-oriented industries as, at the moment, the biggest contributor to the cost of production and cost of
doing business in Pakistan is electricity tariff; which also happens to be the highest in the region and, also
the highest, as compared to competitors in the export markets.

Mr. Atif Ikram Sheikh cautioned that any conditional eligibility criteria tied to incremental gas
consumption, as was the case last year, would unfairly exclude and neglect many export-oriented
industries. Last year, several units did not have gas supply connections; which made it impossible for
them to meet this conditionality, he explained.

Therefore, FPCCI demands that the government should offer the winter package without conditions –
ensuring equal access to all export-oriented industries. This inclusive and transparent approach will boost
exports, employment and economic growth. We urge the government to prioritize the well-being of all
export industries; rather than creating unnecessary discrepancies and exclusions, he added.

Mr. Atif Ikram Sheikh assured the government that trade and industry remains committed to collaborating
with the government to promote Pakistan's economic growth and export competitiveness. He elaborated
that it is a win-win scenario; and, support to industries will help the country achieve substantial export
growth; import substitution; shore up foreign exchange reserves (FER); stabilize rupee-dollar parity and
keep current account deficit (CAD) in check.

FPCCI President also reiterated the apex body’s demands of renegotiating power purchase agreements
(PPAs) of all independent power producers (IPPs) on take-and-pay basis; revitalizing privatization process
of PIA; bringing key policy rate in single-digits and taking far-sighted macroeconomic policy measures
for consistency in policies and promoting ease of doing business. We, at FPCCI, have a futuristic, but
practical, Vision 2030 to achieve exports target of $100 billion; and, we need adequate governmental
support to materialize it,he added