KARACHI: Pakistan’s business community leaders on Saturday urged the government to reduce electricity rates.
The chambers of commerce in Karachi, Lahore, Multan, and Faisalabad unanimously raised the pressing issue of high-power tariffs, pointing out the staggering 2,100 billion rupees allocated for capacity charges this year.
“The government must choose between saving 240 million citizens or appeasing 42 independent power producers (IPPs),” a joint statement of the chambers’ officials said.
Sajjad Arshad, Senior Vice President of the Faisalabad Chamber of Commerce and Industries (FCCI), emphasized that traders are not seeking unrest but expressed grave concern over the escalating crisis. “If unresolved promptly, the situation may spiral out of control,” he cautioned.
“There are currently 130 IPPs operating across the country,” he added.
Zafar Mehmood Chaudhry, Vice President of the Lahore Chamber of Commerce and Industry (LCCI), criticized the IPP agreements as unjust, noting a 25% decline in industrial activity over the past two years. He highlighted that electricity prices in the country have soared to 25 to 30 rupees per unit.
“It is astonishing that the revelation of the 2,100 billion rupees capacity charges for this year has only recently come to light,” remarked Johar Ali, another chamber official, expressing surprise at the previously undisclosed financial burden.
