LAHORE: The Federation of Pakistan Chambers of Commerce and Industry's Businessmen Panel, while strongly reacting to increase in electricity base tariff by Rs1.39 per unit for the second time in one year, along with exorbitant hike of Rs10.49 per litre in petrol prices, has said that the government has declared another mini-budget by burdening the trade and industry with billions of rupees new taxes in the form of huge increase in electricity, gas and petroleum rates.

Businessmen Panel Chairman Mian Anjum Nisar said the constant increases in energy rates on the behest of the International Monetary Fund (IMF) would make the Pakistani products uncompetitive in the international market.

He opposed the government's move of raising power tariff by more than Rs5 per unit, besides lifting rates of petroleum products twice a month to qualify for the revival of the stalled $6 billion IMF loan programme, leading the economy towards point of no return due to interference of the International Monetary Fund.

Mian Anjum Nisar said it was imperative to make power and gas tariffs for domestic, as well as export sectors compatible with the tariff being applied in regional and neighbouring countries.

Copyright Business Recorder, 2021