By Muhammad Saleem
The entrepreneurs are not in favor of the sudden announcement of official holidays citing such decisions significantly impact their business activities.
Farrukh Iqbal, Chairman Pakistan Hosiery Manufacturers and Exporters Association (PHMA), termed the holiday on Youm-e-Takbeer (May 28) “non productive and unnecessary”. He argued that the decision not only shattered the confidence of entrepreneurs but also contradicted the government’s economic revival agenda.
Talking to Grandlines.pk, he said it disrupted the supply chain and production process of the manufacturing units. We have to struggle a lot to strengthen our economy but ironically the sudden announcement of holiday fomented uncertainty. We have to make special arrangements to remain safe from the negative impact of the decision which will surely haunt the businesses for weeks, he claimed.
The country has to face a financial loss of approximately $1.1 to $1.3 billion because of the May 28 holiday. He said the decision created an embarrassing situation for exporters struggling to ship their consignments timely. Besides, he said the millers have to face production related issues due to upcoming Eid-ul-Adha related public holidays. He said disruption in production would lead to delay the export consignments.
On one hand, he said the rulers are claiming that efforts are underway for the revival of the national economy. However, a practical approach is suggesting otherwise, he added.
To attain economic prosperity, he said, we must work tirelessly, and it is the prime responsibility of the government to avoid such announcements in the future. We have to streamline our holidays so that we can give a boost to our businesses, he suggested.
He said foreign exchange reserves of Pakistan are dwindling as the condition of the textile exports is not satisfactory.
Muhammad Omar, a textile exporter, told Grandlines.pk that it’s a good sign that policy makers are trying to educate youngsters about Pakistan’s nuclear status. But the sudden announcement of holiday on May 28 created issues for businesses. The surprise holiday landed the entrepreneurs in an outlandish situation as they could not plan any business activities, he added.
He said such announcements create issues both for businessmen and the workforce. Scores of workers rely on daily wages and such decisions risk their livelihood, he claimed.
He said the entrepreneurs and workers work to meet the deadlines so that shipments could be dispatched timely. However, sudden announcements hit the entire planning forcing millers to reschedule targets and other requirements, he added.
“Such announcements strain the pockets of entrepreneurs already struggling with multiple challenges like high business costs and surging rates of energy,” he claimed.
Prior to taking such decisions, he said the government should consult the business associations to avoid any sort of financial loss. In the rapidly changing era, he said collaboration and transparency are crucial.
Talking to Grandlines.pk, Tariq Mehmood, a paper factory supervisor, said impromptu announcement of holiday on May 28, impacted his factory production. He said the entire labour was determined to complete the order for a textile factory. However, the sudden holiday announcement shattered the entire plan leaving no space for us to call workers back to the factory.
He said the manufacturing units are already working on low margins due to unprecedented inflation. After the holiday, we have to spend hours reviewing our entire production plan and adjusting delivery dates, he added.
He urged the government to refrain from sudden holiday announcements. He argued that surprise holidays are not in favor of struggling economies like Pakistan.
