Commerce minister opposes early market closure

ISLAMABAD: Caretaker Minister for Commerce, Industries and Production Dr Gohar Ejaz on Friday opposed the early market closure under the energy conservation plan and said that the government would face a huge financial loss following the decision, ARY News reported.

While talking to the media, Gohar Ejaz said that the country has surplus electricity and early market closure decision would cause a huge financial loss to the government.

“We sought recommendations from all chambers of commerce in the country in 30 days.”

Ejaz announced that a major anti-gas theft drive would be launched in Pakistan after completing the anti-power theft operation. He asked traders to shed their stubbornness as the country did not have sufficient gas resources.

Related: Hike in gas price inevitable, says caretaker energy minister

“We will invite 100 international brands to attend a conference in Pakistan. All brands will be given the status of state guests.”

The commerce minister said that the actual exchange rate of the US dollar is Rs260 today.

“Sindh and Punjab have been directed to directly purchase electricity from Thar. I will make them exempted from all taxes if they agree to purchase electricity from Thar. The purchases of electricity from Thar will make the tariff equivalent to the region.”

The caretaker minister stressed on need to enhance exports. Ejaz said that Pakistan has only $5 billion excluding the textile exports. He added that the foreign direct investment will come after the increase in exports.

Related: Traders reject govt’s decision of early market closure

Gohar Ejaz said that issues would not resolved until the business leadership agree to come out of all troubles.

The caretaker minister said that he would make maximum efforts to serve the country.

Earlier in August, Ejaz said that the Ministry of Commerce and Industries is devising a plan to boost the country’s exports by extending all-out support to the industry stakeholders.

He urged the textile exporters to shift their focus on value-added products, including garments, to achieve eighty billion dollars export target.

Commerce and Industries Minister Gohar Ejaz assured textile mill owners of providing comprehensive assistance through the ministry’s trade and investment officers stationed in various international missions.

He said the government has decided to establish Business Parks in major cities to boost the economy of the country.

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