KP's Marble industry on the verge of collapse
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The marble industry in Khyber Pakhtunkhwa (KP) faces dire challenges due to the escalating costs of fuel and electricity, coupled with a slowdown in the construction sector. This once-thriving sector, with over 6,000 marble factories across KP, now on brink of collapse.
Asghar Khan, Chairman of the All Pakistan Marble Industries Association, emphasizes the vital role the marble industry has played in providing livelihoods to hundreds of thousands of individuals in various KP districts, including Mardan, Nowshera, Buner, Swat, Swabi, Peshawar, Abbottabad, Mansehra, and Mohmand. Not only does it offer employment opportunities, but it also contributes significantly to the national economy through tax revenues.
However, Khan points out that the government's decisions to raise power tariffs, accompanied by additional taxes like sales tax, withholding tax, and general sales tax (GST) due to fuel adjustments surcharge in electricity bills, have pushed the industry to the brink. The soaring fuel prices have also burdened marble factories with increased transportation costs.
Hassan, a marble dealer, attributes the overall slowdown in construction activities in the country to broader economic challenges, particularly inflation, which has diminished consumers' purchasing power. Despite the abundance of high-quality marble deposits in the Mohmand tribal district of KP, the development of the Mohmand Marble City has been sluggish for various reasons.
However, there is a glimmer of hope as the Marble City has been designated a special economic zone and incorporated into the China-Pakistan Economic Corridor (CPEC). This presents an opportunity to harness Pakistan's premium marble industry for the benefit of the national economy. Nonetheless, it requires immediate attention and incentives from the authorities to unlock its full economic potential, as suggested by Maharaj.
