Trade bodies criticise to increase in power tariff

LAHORE: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) an apex body of chambers in the country on Friday criticised abrupt hike in power tariff, saying it would increase cost of production.

President FPCCI, Senator Haji Ghulam Ali and VP SAARC CCI,Iftikhar Ali Malik in a joint statement said that Petroleum ministry has estimated that gas theft caused a loss of Rs 20 billion and oil theft a loss of Rs 18 billion a year other than the billions of rupees worth energy pilferage in the country.

They stated that instead of abrupt price hike of power, gas and petroleum products, the government must check the "theft" of these vital resources and thus provide the much needed relief to industry.

They urged the government to appoint high profile, competent technocrats in the state run national mega national organisations including WAPDA, Pakistan Steel Mills, PIA, PSO and Pakistan Railways. Iftikhar Malik said that keeping in view the business scenario world over, high rate of mark up by banks should be reduced to single digit for providing relief to the industry. "All these factors are increasing the cost of doing business”, he added.

SVP,LCCI Meher Kashif Younis,VP LCCI Saeeda Nazar,LCCI executive members Aftab Ahmad Vohra,Mian Zahid Jawaid and Waqar Ahmad Mian maintained that two weekly holidays coupled with increased power tariff would affect business environment.

Copyright APP (Associated Press of Pakistan), 2011