KARACHI: The President of the Korangi Association of Trade and Industry (KATI), Johar Qandhari, has expressed serious concern over the National Electric Power Regulatory Authority (NEPRA) recent approval of a more than Rs 5 per unit increase in the fuel surcharge for electricity bills in Karachi.

Qandhari warned that this decision is driving production costs out of control, pushing industries to the brink of collapse.

Highlighting the request for an additional Rs 3 per unit increase under review by NEPRA will worsen the situation; Qandhari urged the regulatory body to thoroughly assess the ground realities before imposing further surcharges.

He questioned whether the people of Pakistan and the industrial sector can bear these rising costs, which threaten their ability to produce competitively priced goods for the global market.

Qandhari criticized NEPRA for approving price hikes without considering the impact on the economy and public sentiment, noting that the rising costs are fueling public anger. He called on the government and NEPRA's Chairman to recognize that electricity prices in Pakistan are already the highest in the region, and further increases could cause irreparable harm to the economy.

Qandhari demanded immediate action to reduce electricity production costs and prices, emphasizing the need to avoid further hikes and provide much-needed relief to both industries and the general public.

Copyright Business Recorder, 2024