FPCCI REJECTS THE INCREASE IN ELECTRICITY RATES

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DNA

Karachi – The President and the Bearers at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have shown concerns over the per unit increase in electricity rates. The Federation is of the opinion that this all is being done on the behest and to meet the conditions of International Monetary Fund.

Mr. Nasser Hyatt Maggo, the President FPCCI, rejects the government’s move of raising power, besides periodically increasing rates of petroleum products, which will have consequential effect on cost of production in industrial sector besides the sympathetic effect on ease of doing business and exports, vis-a-vis the economy as imagined by the Prime Minister.

FPCCI strongly condemns the increase and stresses upon the need to review, since industrial sector is the key factor of overall energy demand and is intrinsically related to economy.