PIAF opposes too many holidays on Eid as trade, industry to suffer

DNA

ISLAMABAD: The Pakistan Industrial and Traders Associations Front (PIAF), while rejecting the government’s notification of almost week-long holidays for Eid, appealed the authorities to withdraw the decision, as the nation cannot afford this luxury amidst poor economic growth and serious financial crisis in the country.

He observed that the national economy is already in distress and can ill afford such a luxury.

The PIAF Chairman Faheem ur Rehman Saigol, expressing grave concern over the long period of holidays on Eid, said that the government has made it a precedent to declare long holidays to please the government employees, who already do not have tendency to work seriously.

He said that in the view of the present economic condition of the country, the decision should be reviewed, adopting a pragmatic approach which suits the national interest.

He urged upon the policymakers to refrain from allowing such a long spell of holidays, which the nation cannot afford both economically and socially.

Due to long holidays’ spell during Eidul Fitr together with weekly holidays, the country will remain cut off from the rest of the world for almost one week having halted all kinds of trade and exports with foreign countries. He regretted that due to these long and unnecessary holidays the country has had to bear an irreparable monetary loss.

Faheem ur Rehman Saigol 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.

The PIAF 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.