Hyderabad ( HRNW) Hyderabad Chamber of Small Traders and Small Industry President Muhammad Saleem Memon has termed the recent raise in petroleum product prices in the country as not just a temporary financial crisis but the result of poor economic planning at the national level, inefficient use of resources and lack of foresight in policy making. He has said that the main reason for the economic pressure, expensive energy, unstable industry and business uncertainty that Pakistan is facing today is not only the global situation but also our own unsteady planning and failure to fully utilize them despite being a country rich in natural resources.
He said that Allah has bestowed Pakistan with coal, gas, water, wind, sunlight and other innumerable natural resources, but unfortunately, instead of utilizing these resources under an effective strategy for national development, cheap energy and industrial stability, the country was left at the mercy of policies that relied heavily on imported fuel, expensive power contracts and external financial pressure. He said that if it had been planned in the right direction in the past, national resources had been prioritized, and serious reforms had been implemented in the energy sector, then Pakistan would not have endured such severe economic shocks today as a result of global fluctuations in petroleum prices, international war situations or external pressures.
Saleem Memon said that the world is rapidly moving towards renewable energy, especially solar, wind and other alternative sources, and Pakistan has also taken steps in this direction, but the most regrettable thing is that for the past several years, due to the non-timely completion of transmission lines and basic infrastructure required for the transmission of cheap electricity, this sector has not been able to benefit the nation to its full potential. He said that despite the passage of nine years, the delay in the completion of several important transmission projects has not only limited the production of cheap electricity but also wasted national capital, valuable foreign exchange and economic opportunities.
The Chamber President said that when a country cannot effectively transfer its relatively cheap energy to the national grid, cannot provide low-cost electricity to its industry, and relies on imported fuel despite having local resources, then even a slight increase in global petroleum prices becomes a crisis for the entire economy, industry, trade and the people. He said that the real problem is not just the high cost of petrol but the policy vacuum that has brought Pakistan to a point where every global crisis directly shakes the country’s economy. He said that if the government seriously focuses on proper management of national resources, transparent planning, modern infrastructure, stakeholder consultation, involvement of industry representatives and long-term reforms in the energy sector, Pakistan can not only reduce its dependence on imported fuel but also protect its industry, exports and business environment from global uncertainties. He clarified that the economy can be strengthened not through temporary decisions, additional taxes and emergency responses but through national self-sufficiency, correct priorities and effective strategies on a permanent basis.
President Chamber Saleem Memon said that today there is a need for the government to view the increase in petroleum prices as a source of revenue only and to view this crisis in the context of reforming the national economic structure. He stressed that policy-making institutions, energy experts, industrialists, business community and other relevant stakeholders should formulate a common national strategy so that Pakistan can make full use of its natural resources and protect itself from expensive energy, import pressure and global volatility. He said that if it is not planned seriously in the right direction even today, not only industry and trade but also the common man will continue to suffer from increasing economic pressure. However, if national resources are utilized with integrity, wisdom and effective management, Pakistan can not only overcome the energy crisis but also lay the foundation for a strong, independent and sustainable economic future.
Secretary General
