The Pakistan Industrial and Traders Association Front (PIAF), while appreciating the National Electric Power Regulatory Authority for decreasing electricity price by Rs 2.19 per unit for September under a monthly fuel adjustment formula has urged the Authority to cut the electricity rate on permanent basis. PIAF Chairman Irfan Iqbal Sheikh also welcomed the government plan of shutting down all expensive oil-based power plants (IPPs) to ensure availability of cheaper energy for consumers.
In a statement on Monday, he lamented that the previous government did not pay heed to rehabilitation and maintenance of old power plants which caused several system constraints inflicting heavy losses. He urged the power ministry to identify system constraints and communicate targets to all the concerned departments to initiate up-gradation of transmission system on war footing. He called for completing all ongoing power projects well before time.
He said production of hydel power has been increased while furnace oil price is constantly declining in the international markets. The Authority, therefore, should not restrict the relief to one month only rather it should decrease power tariff on permanent basis, he added. He said that 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, he suggested. The Chairman PIAF said the electricity price in Pakistan is already on the higher side which is the main source of price-hike in the country.
He said provision of cheap electricity will help reduce production cost which would provide relief to the public. He said declining exports and widening trade deficit has posed a serious threat to economic growth and required to be tackled on priority basis.
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