RCCI demands review of govt decision to reduce business working hours
President of the Rawalpindi Chamber of Commerce and Industry, Saqib Rafiq, has pleaded with the government regarding its decision to reduce business working hours.
“Reduced business hours will further stagnate the economy and reduce revenues” said President Saqib. He has argued that closing businesses earlier may bring more economic turbulence.
The government believes reducing business working hours would reduce energy costs and would help the economy in the long run.
However, President Saqib pointed out that this decision does not take into account both the loss in terms of gov revenue from electricity costs and the loss incurred to businesses. Hotels and restaurants, in particular, thrive during later hours. This decision may limit their business.
Saqib Rafiq expects the government to review their decision after taking into consideration the implications it has for all stakeholders. Taking action to curb economic costs is not a problem, according to Saqib. Not keeping in view its impact for a multifaceted economy may not help the country as a whole.