FPCCI chief says business community mulling going on strike

KARACHI: FPCCI president Irfan Iqbal Sheikh has categorically informed the government that the business, industry and trade community of Pakistan is contemplating to go on strike as the government is not listening to their profound concerns over the exorbitant, unbearable and unrecoverable raise in the electricity tariffs.

He added that he is saying that on the basis of the feedback from 250 trade associations and chambers under the umbrella of FPCCI.

FPCCI chief said the prime minister and finance minister need to immediately take stock of the brewing frustration and impending bankruptcies – and, start the much needed consultative process with the business community. Else, there will be irreversible loss to the employment, revenue collection, exports and economic growth.

Irfan Sheikh reiterated his stance that there is no way that the businesses can pay PKR. 55 – 60 / kWh or per unit of electricity; when accounted for all billing components, i.e. base tariff, sales tax, income tax, excise duty, fuel adjustment charges (FAC) and fixed charges.

Irfan Iqbal Sheikh demanded in strongest possible terms that full impact of the increase of Rs 7.91 / kWh has taken effect as of September 1, 2022; and, now there is no justification left, whatsoever, to keep levying fuel adjustment charges and fixed charges on electricity bills. These should be reversed / waived immediately, he added.

FPCCI – the apex trade body of the country – has lamented the fact that he is under tremendous pressure from all trade bodies, associations, chambers and sectors to negotiate with the government on their behalf.

He added that the business community is the most peaceful and law-abiding community of the country. They run the economy & the country through generating taxes, employment and economic growth; but, they are being incessantly forced to resort to agitation and strikes. This is the most unfortunate situation of my tenure as the President FPCCI and I request the government to listen to the collective concerns of the business community at the earliest, he added.

Copyright Business Recorder, 2022