LCCI demands more cut in power tar­iff

The Financial Daily - - NATIONAL -

Staff Re­porter KARACHI: The Pres­i­dent Las­bela Cham­ber of Com­merce and in­dus­try (LCCI), Yakoob A Karim has de­manded of the govern­ment to re­duce power tar­iff sig­nif­i­cantly in or­der to pro­vide re­lief to the in­dus­trial as well do­mes­tic con­sumers.

In a state­ment he said that the present govern­ment has al­most bro­ken the back­bone of the in­dus­try by fre­quently in­creas­ing util­ity tar­iffs par­tic­u­larly elec­tric­ity and gas prices, it how­ever avoid­ing to re­duce elec­tric­ity tar­iffs de­spite the fre­quent fall­ing prices of fur­nace oil which is largely used in gen­er­at­ing elec­tric­ity.

"The in­ter­na­tional oil prices have crashed al­ready and still fall­ing fre­quently and so far a record level of price has been re­duced so far but the govern­ment is stub­born to not only con­tin­u­ing with the ex­ist­ing power tar­iff but even con­sid­er­ing a lit­tle more in­crease in elec­tric­ity prices. He said that it would be s sheer in­jus­tice with the con­sumers that the govern­ment al­ways jacks up elec­tric­ity prices when­ever global oil prices in­crease even with a frac­tion of dol­lar and it re­frains from re­duc­ing the tar­iff when the POL price gets crashed.

He said that NEPRA has con­spired to al­low the power dis­tri­bu­tion com­pa­nies to fur­ther in­crease Re 0.52n per unit on the pre­text of fuel ad­just­ment at that time when the fur­nace oil prices were de­creas­ing con­stantly.

Yakoob said that due to fre­quent tar­iff in­creases in elec­tric­ity and gas has re­sult into un­prece­dented in­crease in cost of pro­duc­tion while the in­dus­try is al­ready fac­ing the con­se­quences of govern­ment's eco­nomic poli­cies sans wis­dom. He said that what­ever the present govern­ment is do­ing, is for pleas­ing the IMF. Yakoob said adding that the present govern­ment has no eco­nomic poli­cies but to con­tinue with the antiecon­omy and anti-peo­ple poli­cies of the pre­vi­ous govern­ment.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.