Balanced Policy Needed Between Energy Conservation and Business Activity: LCCI President

By Farzana Chaudhry | Lahore, Pakistan
LAHORE: President of the Lahore Chamber of Commerce and Industry, Faheem ur Rehman Saigol, has raised concerns over the government’s decision to close markets nationwide at 8 PM, warning that the move could adversely affect economic activity amid ongoing financial challenges.
In a statement, the LCCI chief urged the government to review the decision and formulate a more practical policy in consultation with all relevant stakeholders.
He noted that Pakistan’s economy is already grappling with multiple issues, including inflation, rising business costs, high energy prices, elevated interest rates, and weak consumer purchasing power. Under such conditions, restricting business hours could further slow economic growth and dampen market activity.
Saigol emphasized that the business community is under significant pressure, with traders, shopkeepers, and small enterprises struggling to sustain operations. He pointed out that evening hours are crucial for retail activity in Pakistan, as most consumers shop after completing their daily work routines.
He warned that early market closures would disproportionately impact small and medium-sized businesses operating on narrow profit margins. The ripple effects, he said, would extend to supply chains, transport services, and other related sectors, potentially leading to reduced employment opportunities.
Highlighting the fiscal implications, the LCCI president said uninterrupted business activity is essential for achieving government tax targets. Reduced commercial operations, he added, would directly impact revenue collection.
While acknowledging that energy conservation is a national priority, Saigol stressed that such measures should not come at the expense of economic continuity. He called for a balanced approach that safeguards both energy efficiency and business sustainability.
He proposed extending market hours until at least 10 PM while encouraging earlier opening times to maximize daylight usage, suggesting this could help conserve energy without harming commercial activity.
Saigol further said that the LCCI has previously submitted recommendations on efficient energy use, including the promotion of solar power, awareness campaigns, and gradual adjustments in business timings.
He underscored the importance of inclusive policymaking, urging authorities to consult trader associations, chambers, and industrial stakeholders to ensure decisions reflect ground realities and are effectively implemented.
Concluding his remarks, he called for the adoption of modern energy-saving solutions such as energy-efficient lighting, energy audits in commercial centers, and increased use of renewable energy, while maintaining a business-friendly environment essential for economic stability and growth.