Extended Eid Holidays not in Favour of Business: EFP

KARACHI: Ismail Suttar, President, Employers’ Federation of Pakistan (EFP), has expressed concern over the recent decision of National Command and Operation Centre (NCOC) to allow for an eight days-long Eid ul Fitr holiday, citing that the business community of Pakistan is already working on limited hours as per the Ramadan schedule and facing difficulties in meeting expectations of buyers for timely delivery and management of supply chains.

Furthermore, the expected lockdown in the month of May, he claimed, has already disturbed future planning for the export-oriented industry. He argued that there is need to abolish the culture of long public holidays and twice weekly off as it results in the suspension of banking services and port operations that multiplies the losses for the business community and as well as the national exchequer.

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The extremely sharp cost-push inflation in recent months, Ismail highlighted, which has already increased increasingly difficult for businessmen to maintain cash flows and to continue retaining employees.

Mr. Suttar acknowledged the sensitivity of the dire Covid-19 situation, which was the basis of NCOC’s aforementioned decision and highlighted that the industrial sector, is the most SOP-complaint segment of the economy and continues to thrive despite 50 percent staff capacity.

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