Rs33bn incremental subsidy on electricity: KATI president concerned over delay in release

KARACHI: President of the Korangi Association of Trade and Industry (KATI), Johar Qandhari has raised concerns over the government’s delay in releasing the Rs33 billion incremental subsidy on electricity.

Despite repeated demands from Karachi’s industrialists, the government has yet to take action, which Qandhari describes as alarming. He emphasized that the ongoing delay is exacerbating the difficulties faced by industrialists in Karachi.

While the federal and provincial governments are actively addressing electricity issues and providing temporary relief measures, Qandhari pointed out the lack of a permanent solution.

He urged the government to promptly resolve matters with K-Electric to release the subsidy, which would offer immediate relief to the city’s industrial sector.

Qandhari also warned that the high cost of electricity and the lack of competitiveness are driving industrialists to consider relocating abroad, potentially leading to widespread industrial closures, increased unemployment, and severe economic repercussions.

Copyright Business Recorder, 2024