Local business community on Tuesday expressed concern over Rs 1.51 per unit hike in the electricity tariff on the pretext of fuel adjustment and sending a summary for a further increase of Rs 2 per unit in the name of subsidy removal. Urging the government to review its decision in the larger interests of national economy, they said that these steps would push trade and industry on the brink of destruction.
Criticising the massive increase in electricity tariff, businessmen said that any further increase in electricity rates would be a blow to economic targets set by the government. President of Multan Chamber of Commerce and Industry (MCCI) Mian Anis A Sheikh said that continuous increases in the electricity tariff were earning a bad name for the government, besides hitting economic targets hard.
Criticising the government, he said that soon after coming into power, government functionaries had announced a number of projects to enhance electricity production, but unfortunately the electricity situation was still the same. Terming the rate of domestic industrial growth the lowest in the region, he said that however, the rate of inflation was the highest when compared with other regional countries, adding that the incidence of poverty was growing with each passing day, while unemployment was touching alarming levels.
Mian Anis A Sheikh said that despite the private sector's opposition, the government was generating a large part of electricity through costly thermal sources, resulting in manifold increase in the production cost of Pakistani products manifold, rendering them uncompetitive in the international market.
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