FPCCI welcomes electricity tariff reduction

FPCCI welcomes electricity tariff reduction

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has welcomed the decision of Prime Minister Imran Khan to provide relief industries by reducing electricity tariff.

Mian Anjum Nisar, President FPCCI, at a press conference on Tuesday lauded the bold initiative to reduce electricity tariffs for SMEs and Industries.

He said for a long, FPCCI was striving for a balanced electricity tariff for industries to compete with the regional trade.

The struggle is now fulfilled and the government realized the issue. “The reduced electricity cost will also positively impact the local markets and will create a tendency to overcome inflation and lead to the spur of economic growth,” he added.

Mian Anjum Nisar President FPCCI on behalf of the business, trade, and industries extend heartily congratulation for such a business friendly decision for the industry.

Prime Minister Imran Khan during a post-cabinet meeting media briefing announced reduced energy costs for industrial sector. The prime minister said that from November 1, the additional electricity used by SMEs up to June 30, 2021, will be sold at 50 percent lower the cost.

The prime minister also said that even the large industries, will pay reduced electricity costs at all times, without any concept of off-peak hours. The prime minister admitted that the industry was severely impacted during the lockdown period and it was now essential that industrial sector should be supported to perform well.

Mian Anjum Nisar also addressed the business, trade, and industry sectors to avail full benefits of this facility and play their part to increase production and volume of export.

Present Government has already decreased the policy interest rates and established a network of economic zones as Karachi Export Processing Zone, Risalpur Export Processing Zone, Sialkot Export Processing Zone, Gujranwala Export Processing Zone, Khairpur Special Economic Zone, Rashakai Economic Zone, Gadoon Economic Zone, Hathar Economic Zone, Quaid e Azam Business Park. And special economic zones SEZ National Science & Technology Park, Islamabad, JW-SEZ China-Pakistan SEZ Raiwind in Punjab, and Dhabeji SEZ in Sindh.

This is the high time to put all energy and efforts into the enhancement of the socio-economic development of the country. Electricity relief packages will ultimately provide support in decreasing expenses and industries will be able to compete with their regional contemporaries.

Leave a Reply

You have to agree to the comment policy.