Power tariff hike to stop economic wheel, warn business leaders

While already paying close to Rs60 per unit inclusive of taxes, trade and industry leaders on Wednesday warned that the fresh hike of Rs7.5 per kWh will bring industrial and export activities to a standstill. Terming the tariff hike as anti-business, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh the country’s products have already become uncompetitive on world markets due to the soaring cost of doing business and there is no way to absorb the added burden. Instead of burdening regular paying power consumers, the government needs to curb electricity theft and control line losses which would plug leakages from the system and generate revenues for the government. “Being president of the apex body, I am under tremendous pressure from all 250 trade bodies, associations, chambers and sectors to negotiate with the government on their behalf and persuade the withdrawal of the latest hike, Mr Irfan said.