KATI Commends Surge In LSM Production

President Korangi Association of Trade and Industry (KATI), Johar Qandhari, Monday, expressed satisfaction over the recent uptick in production within the large-scale manufacturing (LSM) sector

KARACHI, (UrduPoint / Pakistan Point News - 8th Apr, 2024) President Korangi Association of Trade and Industry (KATI), Johar Qandhari, Monday, expressed satisfaction over the recent uptick in production within the large-scale manufacturing (LSM) sector.

President KATI, in a statement issued here, acknowledged the positive impact of increased production, particularly in the textile sector, on exports and opined that the growth surge is transient due to the upcoming Eid festivities.

While underscoring the urgent need of lowering production costs and interest rates thorough cost reduction measures to sustain and bolster industrial activities, Qandhari emphasized that Pakistan's production costs was higher then other countries in the region.

Asserting the vital role of industrialization and exports in fostering economic development, he stressed that government should engage in dialogue with industrialists to address the issue of electricity and gas prices promptly, thereby facilitating economic stability for Pakistan.