Pakistan is confronted with an acute energy crisis which is taking a heavy toll on economy. Pakistan has granted MFN status to India which could create difficulties for Pakistan’s trembling economy. There is a dire need to provide business-friendly environment to our local industries by ensuring uninterrupted supply of electricity and gas. Otherwise, our domestic industry could not compete with Indian cost-effective products.

These remarks were made by Yassar Sakhi Butt, President Islamabad Chamber of Commerce & Industry (ICCI) in a statement. He said that before giving MFN status the government should have make sure that at least our industry is running in full swing so that we were in a position to take the benefit of a big Indian market but it is surprising that no chamber and association have highlighted this issue.

ICCI President said that pharmaceutical industry would definitely suffer which is one of the fastest growing industries in Pakistan and has shown growth of 17 percent in the last 5 years despite the deplorable economic conditions.

He said that Government should also take notice of the fact that Pakistan could not take any advantage of the MFN status given by India to it 15 years back. He said that India should also give market access to Pakistan for its world class finest quality cement, textiles and agricultural products. He demanded the India government to remove Non-Tariff Barriers to make MFN status from Pakistan a success in real sense.

ICCI President said that Government should look into the issues as it was suggested so that our industry benefits from the MFN status rather than it results in benefits to the Indian industry only.