KARACHI: Industrialists in Karachi's SITE Area have issued a stern warning to the government, emphasizing that high energy costs, political instability, and inconsistent economic policies are significantly impacting the nation's manufacturing sector. They have urged the government to address these issues if it intends to maintain industrial activity and safeguard the economy.

According to SITE Association of Industry President Abdul Hadi, the government must recognize the ground realities and adopt industry-friendly measures to promote industrial growth and economic recovery. Hadi cautioned that without such measures, the survival of existing industries could be jeopardized.

Hadi outlined the necessity of an uninterrupted supply of electricity, gas, and water, as well as the importance of political stability and consistent long-term economic policies, for sustaining industrial and economic activity. He pointed out that production costs in Pakistan need to align with those of regional countries to ensure the competitiveness of local industry in global markets.

The SAI chief advocated for fundamental reforms in the energy sector, emphasizing that tariffs for electricity, gas, and water should be reduced to competitive levels found in neighboring countries. This, he argued, would relieve local manufacturers from the ongoing pressure of rising production costs and help them maintain their presence in international markets.

Hadi further highlighted that political stability is crucial for industrial and economic progress, noting that political uncertainty negatively impacts the confidence of international buyers and business partners. This uncertainty makes it challenging for exporters to secure orders and deters investment. He called for consistent, long-term industrial and economic policies that would remain stable despite government changes, stressing that frequent policy shifts undermine business planning and investor confidence.

Additionally, Hadi demanded a stable, transparent, and predictable tax regime, alongside a reduction in interest rates to levels comparable with regional competitors. He concluded that without restoring investor and industrialist confidence, new investment, industrial expansion, job creation, and meaningful growth in exports would remain unattainable. He urged the government to prioritize urgent, practical steps to resolve the energy crisis, political instability, and policy uncertainty to ensure the industry's survival.