K-Electrics’ demand of extra Rs5bn from industries opposed

• K-Electric has started asking the industrial sector for an additional sum of Rs. 5 billion under the Industrial Support Package Adjustment (ISPA).
• Industrialists are already under pressure and now K-Electric is demanding ISPA for the electricity consumed from July to December 2019 which is illegal.

KARACHI: President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain on Friday said that the affects of corona virus have started damaging the economy of the country.

In a statement, Mian Zahid Hussain said that now K-Electric has started asking the industrial sector for an additional sum of Rs. 5 billion under the Industrial Support Package Adjustment (ISPA), which will bankrupt the local industries.

He said that industrialists are already under pressure and now K-Electric is demanding ISPA for the electricity consumed from July to December 2019 which is illegal.

He said that the global recession has reduced the demand hitting out export sector, therefore, the issue of excessive electricity charges should be settled without delay in the interest of economy.

Mian Zahid said that closure of the industrial sector will result in heavy losses and massive unemployment.