KARACHI: Site Association of Industry Chairman Mirza Ikhtiar Baig said on Thursday exporters might suffer losses in terms of expiry of letters of credits (LCs) because of a four-day closure of banks as export orders could not be executed.
He said the government talked about export culture and its development but did not realise the real impact of too many holidays on the export-oriented industries.
“There is no logic for announcing a holiday for ‘chand raat’,” he said, adding that the government should not make holidays mandatory rather it should keep holidays on optional basis.
He said exports would remain affected for many days. Besides, the local producers would have to disburse huge money to workers for overtime just because of too many holidays, he added.
