KARACHI
\nThe Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Mubashar Naseer Butt has opposed the government\u2019s decision of too many holidays on Eid, as the move would hurt the business, causing a loss of billions of rupees in exports.
\nCriticizing the government\u2019s decision of five holidays on Eidul Fitr, which is believed to be extended further to more than a week unilaterally, Mubashar Butt said that the country would remain disconnected with the world for almost a week, and it will cost the economy of billions.
\nHe 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.
\nThe ATM system is not efficient and it might aggravate the liquidity problem, he said. He 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.
\nThe 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.
\nHe observed that the national economy is already in distress and can ill afford such a luxury.
\nThe 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 remarked.
\nHe urged upon the policymakers to refrain from allowing such a long spell of holidays, which the nation cannot afford both economically and socially.
\nDue to long holidays\u2019 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Mubashar Naseer Butt has opposed the government\u2019s decision of too many holidays on Eid, as the move would hurt the business, causing a loss of billions of rupees in exports. Criticizing the government\u2019s decision of five holidays on Eidul Fitr, which is believed […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-325989","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n