LAHORE: The Pakistan Industrial and Traders Association Front (PIAF) while appreciating the National Electric Power Regulatory Authority for decreasing electricity price by Rs 1.90 per unit on account of fuel adjustment charges has urged the Authority to cut the electricity rate on permanent basis.
PIAF Chairman Irfan Iqbal Sheikh while addressing PIAF executive committee members at a hotel.
Seniors from PIAF, PIAF Patron-in-chief, Mian Anjum Nisar, Senior Vice Chairman Tanveer Ahmed Sufi, Vice Chairman Khawaja Shahzeb Akram, former PIAF presidents Muhammad Ali Mian, Sohail Lashari and LCCI vice president Nasir Hameed also addressed the meeting.
Irfan said that electricity production of hydro power has been increased while prices of furnace oil are continuously declining in the international market. The authority should not restrict the relief to one month only, rather it should decrease the power tariff on a permanent basis, he added.
He said the electricity price in Pakistan is already on the higher side which is the main cause of price-hike in Pakistan. He said provision of cheap electricity will reduce industrial production cost that can provide relief to the public.
The chairman also said declining exports and widening trade deficit has posed a serious threat to economic growth and required to be tackled on priority basis. The government should also find a lasting solution to the problem of high prices of foodstuffs instead of opting for imports from India.
He further said, “Business friendly policies must be adopted as other neighboring countries of the region are giving to trade and industry. The amount specified in trade policy should be utilized for the promotion of exports by giving incentives to the trade and industry and by exploring new markets.”
Published in Daily Times, June 23rd, 2017.
