KARACHI: Businessmen have appealed the newly elected Prime Minister Shahbaz Sharif to reduce electricity tariffs in a bid to aid the industrial sector.
“The unnecessary increase in electricity tariffs by the previous government has directly affected the industries,” said Korangi Association of Trade and Industry (KATI) Acting President Farrukh Qandhari in a statement on Thursday. “This resulted in a sharp increase in production cost and now, traders are fed up with the persistent hikes in tariffs”
The new government must take immediate steps to provide relief to the industrialists so that the economic cycle could run efficiently, he said.
He was of a view that a significant reduction in the cost of product would give a push to the export sector and this would enable exporters to promote Pakistani products in international markets.
Moreover, the production costs in Pakistan are the highest in the region and due to this, exporters are unable to compete in the global market.
Electricity price should be reduced by the government on a priority basis for immediate relief, he said.
Qandhari was hopeful that the prime minister would take steps to address the problems of the industrialists on a priority basis. According to him, this would help Pakistan’s economy to stand on its own feet once again and achieve the desired growth rate.
The reduction of electricity and gas prices including production costs was essential for the country’s economic independence and development, he added.
