LAHORE, Oct 28: Chambers of commerce and traders’ associations have warned the government that they will halt their businesses across the country if the temporary relief of 40 per cent on power bills is not made permanent in two weeks.

Lahore Chamber of Commerce and Industry President Mohammad Ali Mian told reporters that the decision was taken at the All Pakistan Trade Bodies Conference held here on Tuesday. It was attended by representatives of 25 trade associations.

He said the conference had been asked to make recommendations for the government to cope with the economic crisis. The conference urged the government to consult representatives of trade and industry before going for an IMF loan, adding that businessmen could help the government in its efforts to tide over the current economic crisis.

Mr Ali said that overseas Pakistanis could flood the country with dollars if an environment conducive to investment was created.

He said that banks had withdrawn many facilities they provided to the business community because of the financial crunch.

The conference called for an immediate reduction in interest rates and asked the government to stop the cross-subsidy of Rs40 billion on fertiliser being paid by the trade and industry.