Employers’ Federation of Pakistan Industrialists representing Industrial Town Associations and Trade Associations deliberated and discussed the prevailing economic scenario and expressed their deep concern on its negative impact on employers and workers at the Consultative Session organized by Employers’ Federation of Pakistan with the support of ILO on the economic crisis and its Impact on industry. The emphasis and focus were on minimum wage, labor inspection, retrenchment of workers, industrial relations, enterprise sustainability, and social protection of workers.
Syed Nazar Ali, Secretary General EFP, while moderating the session, gave an overview of the situation faced by workers and employers, asked participants to highlight the economic issues, and requested the 30 plus participants to suggest a pragmatic way forward.
He stated that EFP is very concerned with news about closure of factories and has been receiving urgent messages from leaders of workers regarding retrenchments and layoffs.Majyd Aziz, Former President of EFP, who chaired the meeting, said that Pakistan’s dire economic, financial, and political situation has resulted in a serious challenge to the survivability and sustainability of the country. He said that high inflation, supply chain disruption, back-breaking increases in the rates of gas and electricity, currency devaluation, declining exports and remittances, have all substantially increased the cost of production.
“The closure of factories is a direct result of these factors and despite sensitizing the government to understand the gravity of the situation and to take immediate action, there is inertia in the corridors of power.” He advised all trade bodies to unite and raise a common voice instead of devoting their time, money and efforts in elections in their organizations and issuing negative statements.
The absence of a strong national business leadership has created many mini leaders and has diluted the voice of the private sector.
