KARACHI: A prominent delegation led by Zubair Chhaya, Deputy Patron-in-Chief of the Korangi Association of Trade and Industry (KATI), convened at the K Electric Head Office to meet with Caretaker Federal Minister for Petroleum and Energy, Muhammad Ali.
The KATI delegation, which comprised notable members including Masood Naqi, Ahsan Akbar Farooqui, Saleem-uz-Zaman, and Rehan Javed, gathered alongside senior officers from K Electric to address pressing concerns related to electricity and gas issues affecting the industrial sector, particularly within the Korangi Industrial Area.
During the meeting, Zubair Chhaya articulated the challenges faced by industries due to the prevailing electricity rates. He emphasised that the current power rates had rendered the continuation of production activities, particularly for Small and Medium Enterprises (SMEs) and cottage industries, unfeasible.
Furthermore, Chhaya conveyed that the imposition of taxes and surcharges on electricity bills had significantly inflated production costs, thereby hampering the competitiveness of Pakistani products in the global market. He noted that these issues had created a growing economic crisis in the region.
In response to these industry concerns, Caretaker Federal Minister Muhammad Ali offered assurance of the government's proactive efforts to resolve the problems faced by industrialists. He reiterated the government's commitment to addressing the economic challenges and disclosed that the Ministry of Petroleum and Energy was actively working on formulating a specialised discount package tailored for the upcoming winter season.
Additionally, an all-encompassing package aimed at benefiting the entire industrial sector was also in the pipeline.
The meeting concluded with a shared commitment between the KATI delegation and the Caretaker Federal Minister to collaborate closely in addressing the pressing electricity and gas-related challenges facing Karachi's industrial landscape.
The proposed discount packages are expected to provide much-needed relief to the industrial sector and contribute to economic stability in the region.
Copyright Business Recorder, 2023