Industry and trade associations have revealed their concerns over a proposed increase in the power and gas tariff following pressure from the International Monetary Fund (IMF) and warned that it could devastate the industry.
The concerns chiefly surfaced on Tuesday from the Chairman of the Pakistan Industrial and Traders Association representing these associations, Irfan Iqbal Sheikh, who said in a statement that the increase could endanger the trade and industry.
"This will also push the input cost up and the industry will be unable to afford it," he added. He suggested that the tariff be fixed once in a year since a monthly price review could affect the production process.
"Because of the high input cost, our products are no more competitive in the international market and as a result our exports are gradually diminishing," he warned. He also urged the government to slash the power tariff by three rupees per unit, as it was done for the agriculture sector.
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