Business community has showed dismay over increase in oil prices and power tariff and demanded of the government to withdraw the decisions. Businessmen and industrialists said that Pakistan already had the highest power tariff in the region as compared to India, Bangladesh and Sri Lanka. They said that increase in electricity tariff every fortnight would add to the woe of public as they were already burdened by the rising inflation.
They noted that during the last two years, government had made frequent hike in power tariff making it more than 70-80 percent costly which has shattered the confidence of businessmen and investors in the economy. They said that the economy was not in a position to absorb the negative impact of sharp increase in power tariff and oil prices. They urged the government to withdraw the increase in power and gas tariff, and oil prices to strengthen the industry and trade activities. Former Vice Chairman Korangi Association of Trade and Industry (KATI), Shahid Javaid Qureshi, recalled that Nawaz Sharif before coming into power had promised he would reduce power and gas tariff and oil prices. "Now, in negation of his promise, he is increasing power and gas tariff," he added.
He also criticised National Power Policy in which it was stated that the power theft cost would be recovered from those who are already paying power bill. He said that it was the responsibly of the government to apprehend those stealing power and if government can not apprehend them it must leave and give responsibility to others. He expressed fear that if the policy was implemented, then those who are honest and paying bills regularly would also start using Kunda to save them from extra burden. He said that unprecedented increase in the production cost during the last coupler of years had resulted in negative repercussions for its export.
He was of the view that consistency in the power and gas tariff was a key requirement in making long-term business expansion plans. Frequent increases in tariff were affecting investment and destabilising the economy, he said. Qureshi said it was the worst injustice done by the present rulers with the poor people and it would create more problems for the people who were already living in the miserable condition.
Mohammad Nazim said increase in power and oil was another nail in industry's coffin as the industry was already suffering due to high cost of manufacturing. Chairman KATI, Mohammed Zubair Chhaya, said that Prime Minister Nawaz Sharif should review the increase in petroleum products prices and power tariff on priority basis so that relief could be given to industry and people.
He further said that there was a need to avoid theft of electricity and ensure distribution of energy saver to save the energy. Chairman All Karachi Industrial Alliance, Mian Zahid Hussain, showed his serious concern over the increase in electricity tariff and oil prices. He said that the approval of National Power Policy was a good step from the government but due to day to day increase in cost of production it would become very difficult for industrialists to compete in the foreign markets.
Patron-in-Chief KATI, S. M. Muneer said that positive result will be on the table with the promulgation of National Power Policy 2015 which would encompass generation of 400 MW by Hydro and 7000 MW from coal plant. But Pakistani exporters are facing difficulties due to high cost of production and increase in prices of electricity, he added.
Comments
Comments are closed.