Electricity through renewable energy: HCCI President criticizes govt for its incompetence

HYDERABAD: President Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has severely criticized caretaker federal government for its incompetence and failure to produce electricity through renewable energy with the result that power distribution companies have been allowed Rs4.567 per unit cost hike under fuel price adjustment (FPA) for Dec 2023 bills which was approved by Nepra lately.

In a statement issued on Monday he said that less renewable energy was produced in 2023 when compared with 2022 numbers. He termed it sheer incompetence of present caretakers as electricity distribution companies would claim FPA of Rs4.567 per unit of Dec 2023 from consumers in Feb’s bills after Nepra’s approval.

HCCI Chief said that electricity tariff was comparatively low even when dollar was available at Rs307 in the country sometime back but now when it has shown recovery and stability raise in tariff was being given effect.

He said that rise in electricity’s cost is administrative failure as government could not ensure production of inexpensive energy like wind, solar and renewable. He asserted that 36pc less nuclear energy was produced last year when compared with 2022’s production figures.

Siddiqui said that local coal based energy’s cost is costing Rs12.13 per unit whereas 24pc more energy based on coal was produced in 2023 in comparison to 2022 thus increase under FPA was not understandable.

He said that expensive energy production was costing consumers very dearly now. He said that other countries in our region were providing electricity at a rate of seven cent per unit to industry while in Pakistan industry was purchasing electricity 16 cent per unit.

President HCCI said that this has affected Pakistani exports and since export market was showing strong competition exports were find it hard to get due space. He said that recent decision of caretakers had unnerved industrialists, traders and consumers. He said business community had rejected the raise which would contribute to financial miseries for people even further. He urged government to pay serious attention to production of inexpensive electricity for people.

Siddiqui called for rehabilitating closed powerhouses, research and advance technology to ensure required energy production. He said that 1300MW Jamshoro coal powerhouse should be run through locally produced coal and power distribution companies’ efficiency should be improved.

Copyright Business Recorder, 2024