Interview with Mr Ahmed Chinoy (H.I.S.I) – Chairman, Pakistan Cloth Merchants Association
[box type=”shadow” align=”” class=”” width=””]Profile:
Mr Ahmed Chinoy is a businessman by profession and social activist by nature. Being in his profession for over 25 years with a vast experience and knowledge, he is associated with the textile industry since the beginning of his career. He is also heading Pakistan Cloth Merchants Association, an organization looking after the trade regulations with regards to textiles in the country. His business has diversified into more categories that are Construction Development, Project Management and Controlled Poultry Farms. He has served as the CPLC Chief for over 6 years and is associated with multiple NGOs working for the betterment of the country in different fields such as health, law and order situation, education and other departments. This work has led him to be the recipient of two highly prestigious National Awards: Sitara-e-Imtiaz and Hilal-e-Imtiaz. He is currently serving as the Director of Pakistan Stock Exchange.[/box]
PAKISTAN & GULF ECONOMIST had an exclusive conversation with Mr Ahmed Chinoy regarding the current state of the economy. Following are the excerpts of the conversation:
I request the Prime Minister and the Economic Coordination Committee for revised power tariff for Karachi. We know that due to COVID-19, the textile industry and other industries in Pakistan are facing economic crises. Due to COVID pandemic the domestic industry is still facing cash flow crisis. The small and medium industries, the main providers of jobs, are still struggling because of lack of funds.
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The August exports declined 20 percent due to various holidays in this month and also due to the heavy rains in the country. The rains and consequential urban flooding, particularly in Karachi, have caused significant problems in the existing infrastructure, disrupted the supply chains and affected the exports for the month of August. Power outages, slowdown in business activities, delays in transportation and hampering of port operations are some of the issues faced by the exporters due to unprecedented monsoon rains in the country. The industrial and domestic areas were flooded by rain and due to sewerage water, the factories and shops were shut down, the export consignment were not delivered to the port and also the consignments were destroyed. The activities at the port for export and import were halted for some days. The shipments en route were also stuck on the roads due to heavy rain flood and sewerage water. Due to all this, the textile industry, shop owners and small businesses have faced heavy losses.
During his visit, the Prime Minister at Karachi assured for full cooperation to the textile industry and for the people of Karachi. I thank the Prime Minister for announcing Rs1.1 trillion package for Karachi. I further request the Prime Minister and the ECC to reconsider the increase in power tariff which is from Rs1.09 to Rs2.89 per unit for various consumers of Karachi effective from 1st September. Keeping the above realty and fact I hope the tariff rate will be revised by ECC for the survival and growth of the textile industry and for the people of Karachi.