The newly elected President of Sialkot Chamber of Commerce and Industry (SCCI), Muhammad Ishaq Butt, has expressed deep concern over the 6 percent increase in electricity tariff. In a media release issued here on Friday he said the increase will create negative impact on industrial sector, adding that industrial sector was already under great pressure and suffering adversely due to the load shedding.
The increase in electricity tariff would be the last nail in weak economy because the productivity had already been at its lowest ebb, he cautioned. He urged the government to withdraw the decision of increase in electricity tariff immediately because the business community was being forced to shut down their industrial units.
The cost of production had been increased manifold due to the electricity load shedding and high power tariff as a result of which the business community was unable to compete with their competitors like India, China and Bangladesh in international market, he said. The SCCI President said that if situation remained the same then Pakistan will lose international market which would be serious economic setback for the country.
The newly elected Chairman of Pakistan Sports Goods Manufacturers and Exporters Association (PSGA), Zia-ur-Rehman, also expressed deep concern over the decision of 6 percent increase in electricity charges and said it will trash the industrial sector and enhance unemployment in the country. Meanwhile, all trade bodies have rejected the decision of 6 percent increase in electricity tariff and demanded its immediate withdrawal for the larger national interest.
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