KARACHI: The President and the Bearers at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) expressed concerns about the per unit increase in electricity rates. The Federation said that this all is being done on the behest and to meet the conditions of the International Monetary Fund (IMF).
Nasser Hyatt Maggo, the President FPCCI, condemned the government’s move of raising power, besides periodically increasing rates of petroleum products, which he said will have a consequential effect on the cost of production in the industrial sector besides the sympathetic effect on ease of doing business and exports, vis-a-vis the economy as imagined by the Prime Minister.
FPCCI strongly condemned the increase and stressed the need to review the decision by the government. Furthermore, the federation’s statement said that the industrial sector is the key factor of overall energy demand and is intrinsically related to the economy, hence the government should address the concerns.