Pakistan Industrial and Traders Association (PIAF) has said the decline in electricity consumption in industrial estates from 45MW to 20MW indicates that industrial units are being closed mainly due to higher power tariff.
PIAF chairman Irfan Iqbal Sheikh was speaking at a meeting of industries' owners at the Quaid-e-Azam Industrial Estate. While appreciating the government for announcing an incentive package worth Rs 180 billion, he said the package would help boost the country's exports besides developing foreign exchange reserves.
Irfan Iqbal Sheikh further said the unaffordable tariff of electricity and gas is also one of the reasons for decreasing exports. The government, therefore, should also provide relief to the industry by lowering the gas and electricity price, he added.
He also urged the government to take the notice of unnecessary use of Section 38B and 40B of the Sales Tax Act to ensure business friendly environment.