KARACHI: Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), has said that if the government wants to see the country economically stable, it should provide relief to the industries otherwise it will have a very negative impact on the country economy.
Expressing deep concern over the sudden rise in electricity tariffs and rejecting the tariff hike by K-Electric, he demanded immediate withdrawal of recent hike and asks for electricity bills to the industries at the previous rates.
He said that K-Electric has increased the electricity tariff by Rs2.87 per unit without any prior notice and electricity bills are being sent to the industries as per the increased rates which has caused a wave of concern among the industrialists.
"Further increase in electricity tariff will lead to a sharp rise in the cost of industrial production and will make exporters unable to compete in international markets, which could lead to a decline in domestic exports," he pointed out.
He further said that industrialists and stakeholders including NKATI must be taken into confidence before increasing the KE electricity tariff and exchange actual reasons for the increasing tariff so that the industrial community can set an estimate of the cost of production.
Copyright Business Recorder, 2020