PIBF rejects proposed ‘smart lockdown’ measures

Business Recorder reported that the Pak International Business Forum (PIBF) has rejected the smart lockdown steps the government is weighing to save fuel and ease economic strain. In the forum's view, curbing business activity cannot offer a lasting remedy for the country's economic difficulties. PIBF Central President Dr Mushtaq Mangat and Secretary General Muhammad Ejaz Tanveer said the business community's top demand is a quick and large reduction in petrol, diesel and electricity prices.

The PIBF argued that costly fuel and power have raised production and transport expenses, disrupted supply chains and added to inflation for consumers. Tanveer cautioned that a smart lockdown would reduce commercial activity and turnover while leaving the reasons behind rising costs unaddressed. Mangat called for the petroleum levy and other fuel-related charges to be cut immediately, with electricity tariffs rationalised to aid industry, traders and households.

PIBF wants the government to focus on cheaper energy and lower transport costs rather than restrictions on enterprises, arguing this would support trade. Its demands also include an immediate cut to the petroleum levy, lower petrol and diesel rates and revised electricity tariffs.