ICCI lauds government’s decision to withdraw increase in power tariff Business Recorder

ISLAMABAD: Islamabad Chamber of Commerce & Industry (ICCI) has lauded the government's decision to withdraw its notification for making an increase of 40 to 201 percent in power tariff for domestic electricity consumers and termed it a positive move to save the general public from unbearable burden. In a statement issued here on Friday, President ICCI Shaban Khalid, also appreciated the intervention of Supreme Court (SC) which led to the withdrawal of power tariff hike and said it would provide a remarkable relief for already overburdened common man. He also called upon the government to consider withdrawing 74 percent increase in electricity for industrial, commercial and bulk consumers. He said electricity is one of the basic needs of industry and such unprecedented hike in power tariff would cause massive closure of industrial units in the country as they would not be able continue manufacturing activities. Shahban Khalid said that Pakistan is facing serious problem of unemployment and encouraging industrialization is the best way to create more jobs. But taking measures to make conditions tougher for industry would cause more job losses leading to social unrest in the country. He warned that the exports of Pakistan would also suffer badly as the huge hike in power tariff would make phenomenal increase in cost of doing business making our industry further uncompetitive in international market. The President ICCI said government should invite all business leaders of the country and consult with them to explore new ways and means to cope with current problems including removal of power subsidies in order to minimize negative effects on industry and the economy.