FBATI lauds govt's decision to give power relief for industries
KARACHI: Industrialists in Karachi termed the government's decision to fix the electricity tariff at Rs 38 per unit as a business-friendly step for industries of different sizes and sectors in the commercial capital of the country.
President Federal B Area Association of Trade and Industries (FBATI) Sheikh Muhammad Tehseen lauded the government's decision to give relief to industries, urging the government to continue its efforts to reduce the cost of production in a phased manner to make exports of different products competitive in the global markets.
Industries urged the government to contain the electricity tariff through its policy measures by 8 cents mainly for the export-oriented sectors to enhance the likelihood of earning increasing foreign exchange for the country, he added.
He said the government should continue to negotiate with IPPs to reduce the cost of electricity to industries and residential consumers while encouraging them to produce low-cost green energy through solar power plants on a long-term basis. Also, the government should pass on the benefits of lowering petroleum product prices to industries and masses to control inflation and cost of production in the country, he further said.
It is pertinent to mention here that the government reduced the electricity unit prices for April by Rs 7 per unit after bringing in reforms in the power sector.
Chairman Sub-Committee on Power and Former President FBATI Syed Raza Hussain said the relief to industries of Karachi would translate into the growth in exports of various products and services, hence, the government should continue to support for large-scale to medium, and small industries with every positive step.
He mentioned that industries of Karachi deserve equal albeit preferential treatment because of its contribution to export growth, however, the pledged subsidy on account of incremental benefit is yet to be paid by the government.
He expressed his optimism that decreasing tariffs for electricity coupled with a single digit policy rate will not only attract foreign and local investment in industries but it will also encourage industries to consume enhanced electricity, ultimately, which will benefit to all stakeholders equally, including power- producing companies and the government as a win-win situation.
Copyright Business Recorder, 2025
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