HYDERABAD: Adeel Siddiqui President of Hyderabad Chamber of Commerce & Industry has urged Sindh government to lift business hours restrictions failing which business community would start facing bankruptcy and added that government would not be able to get revenue in terms of taxes.
In a statement issued here on Thursday, he said that businessmen and traders were following business restrictions schedule of Sindh government in spite of the fact that they were facing aggressive electricity, petrol and gas tariffs. He said if curbs on business timings were not lifted then businessmen would face bankruptcy and resultantly government would not be able to meet its revenue collection targets.
HCCI Chief said that crude oil prices had declined in international market now and this would make balance of payment easier. He said that due to water shortage in river system hydro power plants were not functioning. He said these power plants would however now start producing electricity and this would cover the gap in demand and supply of electricity.
Mr. Adeel Siddiqui urged government to facilitate business community so that the country could progress adding that the same business community had stood with government in difficult times. Now, he said, it was government’s turn to understand traders and business community’s issues.
Mr. Siddiqui appealed to prime minister and Sindh chief minister to lift restrictions on business timings so that businessmen could work comfortably which was even otherwise their fundamental right. He said that it was also necessary for economic stability that government should increase exports and encourage foreign investment in private sector.
HCCI Chief said government should remove all sorts of hurdles in foreign investment so that employment opportunities could be created. He said that this would lead to more revenue generation and it would have positive impact on economy. Mr. Siddiqui said economic and political instability, rupee devaluation, dollar’s upward journey, and increased interest rate had affected overall business environment. He said businessmen need facilitation in business and access to business and export financing that would increase exports to get more foreign exchange.
