The government’s decision to offer five days off for Eid has been criticised by Mubashar Naseer Butt, Central Chairman of the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA). He issues a dire warning that the prolonged hiatus will seriously harm the nation’s economy and result in a loss of billions of rupees in exports.
Because of the government’s decision to provide five holidays during Eidul Fitr, which may be extended further, Pakistan will be cut off from the outside world for nearly a week, according to Butt.
He added that the ATM system is inefficient and can exacerbate the liquidity issue. “The long closure of banks will lead to delays in opening Letters of Credit (LCs) and making payments, creating problems for the trade and industry as well as the common man,” he said.
Butt advised decision-makers to take a practical approach that serves the national interest while keeping in mind the current economic situation.
The PRGMEA head bemoaned that “the government has made it a precedent to declare long holidays to please government employees, who already have a tendency to not take work seriously.” He pleaded with decision-makers to forgo granting such a protracted period of vacation time, saying that doing so would only harm the nation’s economy on an economic and social level.