The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Mubashar Naseer Butt has opposed the government’s decision of five holidays on Eid and said the move would hurt the business and causing a loss of billions of rupees in exports.
In a press release the Criticizing the government’s decision of five holidays on Eidul Fitr, which is believed to be extended further to more than a week unilaterally, Butt said that the country would remain disconnected with the world for almost a week, and it will cost the economy of billions.
He said that long closure of banks would lead to delays in the opening of LCs and making payments. The impact of banking sector shutdown would also create problems for not only the trade and industry but also for the common man. The ATM system is not efficient and it might aggravate the liquidity problem, he said.
Mubashar Naseer Butt said that keeping in the view of the current economic situation of the country; the decision should be reviewed, adopting a pragmatic approach which suits the national interest.
The PRGMEA Central Chief said that due to closure of transport there will be problem to transfer the finished goods from one to other places, as the long five-day holidays would cut-off Pakistan commercially from the world, causing a loss of billions of rupees in external trade.
Mubashar Naseer Butt observed that the national economy is already in distress and can ill afford such a luxury.
