KARACHI: Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Amaan Piracha has emphasized the urgent need to accelerate the privatization process of electricity distribution companies.
He said, loss-making power generation companies (GENCOs), are burden on the national economy and must be auctioned off immediately. The first phase of the privatization of outdated and loss-incurring GENCOs has already generated Rs9.5 billion in revenue for the national treasury.
Amaan Piracha stated that to boost industrial production, exports, and foreign exchange earnings, uninterrupted power supply should be ensured to industries by connecting them directly to the transmission lines.
He further urged the government to consult the FPCCI leadership for the countrywide development of electric vehicles. He added that the installation of smart meters should be completed as soon as possible, and the establishment of EV charging stations across the country should be accelerated. Companies—both local and foreign—that invest in this sector should be given full facilities and incentives.
Highlighting the importance of energy efficiency, he said that commitments made by banks to provide easy loans for the promotion of energy-efficient fans must be fulfilled promptly. This would enable middle-class consumers to save electricity and benefit from reduced electricity bills.
He welcomed Prime Minister Shehbaz Sharif's directive to expedite the establishment of electric vehicle (EV) charging stations, calling it a positive and much-needed move.
Copyright Business Recorder, 2025
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