KARACHI: Provincial Minister for Commerce and Industry, Jam Ikramullah Dharejo, visiting “My Karachi” trade expo organized by KCCI and talking to newsmen said that the electricity tariff is very high, which is rapidly affecting industries and causing them to lose their capacity. There is an urgent need to reschedule the agreements made with Independent Power Producers (IPPs).
He was accompanied by TDAP Chief Executive Zubair Motiwala, KCCI President Iftikhar Ahmed Sheikh, Altaf Ghaffar, and diplomats from various countries. During the visit, he met with Farhan Lakhani, Director of Lakhani Silk Mills, and praised the fabric produced by Lakhani as being of international standard.
Provincial Minister Jam Ikramullah Dharejo said that the Sindh government prioritizes solving the problems of the business community. He also mentioned that the Chief Minister of Sindh, Syed Murad Ali Shah, has demanded from the federal government that if Sindh is allowed to generate electricity, it can provide electricity at only 25 rupees per unit.
Dharejo urged the federal government to focus on improving Karachi’s infrastructure. He reminded that Prime Minister Mian Shehbaz Sharif had promised to allocate funds for the improvement of Karachi’s infrastructure and called on him to fulfill this promise.
He stated that Sindh’s stance on the agreements with IPPs is clear: there is a need to review these agreements and they should be renegotiated. He urged the federal government to resolve this issue as soon as possible.
Visiting stall of Lakhani Silk Mill, he revealed that the Sindh government is developing new economic zones in the province. A state-of-the-art Special Economic Zone will be established on 2,000 acres under public-private partnership on Hub River Road. Work has begun on 1,300 acres in Phase 3 of the Nooriabad Industrial Zone.
The provincial Ministry of Industry intends to create agri-processing zones in major cities of Sindh, aligning with the vision of Pakistan People’s Party Chairman Bilawal Bhutto Zardari to establish new industrial zones in every district of Sindh.
Farhan Lakhani, Director of Lakhani Silk Mills, said that they have been participating in the “My Karachi” exhibition for 19 years and strive to showcase products for the middle class. He highlighted that it has become difficult to do business due to high electricity rates, which make it challenging to compete in the region. Over the past two years, electricity and gas bills have increased fourfold, and there are load shedding periods of 8 to 10 hours in most commercial areas, making it difficult for the retail sector to grow. He noted that their associates are investing abroad instead of in Pakistan, and if the government does not address the situation, there is a risk of small businesses closing down.
Copyright Business Recorder, 2024