Rs3 per unit cut in electricity tariff for industries hailed by KCCI

KARACHI: KARACHI: President Karachi Chamber of Commerce and Industry (KCCI), Younus Mohammad Bashir has hailed cut in electricity tariff by 3 rupees per unit for industrial consumers all over Pakistan which was announced by Prime Minister Mian Mohammad Nawaz Sharif during his recent visit to Karachi.

In a statement issued, Younus Bashir said that this cut in electricity tariff would help to bring down the cost of doing business and ease the inflation.

“The business and industrial community of Pakistan, particularly of Karachi, warmly welcome this pro-business step which is surely a ‘sigh of relief’ for all of us after a long time”, President KCCI added.

Younus Bashir was of the opinion that due to rising cost of doing business, the businessmen and industrialists were finding it very hard to stay afloat.

He said that industry and trade were put under immense pressure due to higher electricity and gas prices under the auspices of the IMF program on numerous occasions.” This relief in electricity bills would surely prove to be beneficial for the entire business and industrial community in general and the economy in particular”, Younus Bashir stated.

While commenting on demand-supply gap, KCCI President said that although many projects have been initiated to meet electricity demand but they were still not enough and lot more needs to be done as Pakistan’s energy demand was above 20,000 Megawatts against the production of around 11,500 megawatts.

Younus Bashir hoped that the government would continue to focus on creating a pro-business and enabling environment for the business and industrial community. ”Government should also pay attention to the difficult regulatory environment for starting a new business, non-availability of electricity, water & gas and the hardships in paying taxes” he demanded.

He was on the view that businesses can grow better in a stable environment here there is certainty of government regulations and policies. Stable policies have their own benefits which enable a company to plan and decide on the business modalities and the viability of entering new ventures or undergo expansions.