President Federal B Area Trade and Industries (FBATI), Syed Raza Hussain, said the decision to cut down the power tariff by 7 cents will give a little relief to industrial consumers across the country.
Lauding the role of the caretaker government in announcing the reduction of the power tariff from 16 cents per KWh to 9 cents per KWh, the FBATI President urged the upcoming government to further revise down the power tariff to empower industries to curtail their cost of doing business significantly, enhancing industrial production for the local and export markets.
President FBATI also underscored the need for uninterrupted supplies of electricity to industrial consumers for a positive and attractive business climate, improving the investment climate of the country while attracting investment from local and foreign investors in multiple sectors ultimately.
Further, the competitiveness of the local brands with this decision will be improved, which will also support the growth of exports to various foreign countries, particularly the SMEs, he added.
He also requested the interim government issue the notification immediately to revive hope for industrialists and businessmen to sustain their businesses on the road to recovery, growth, and development.
Rationalizing the electricity tariff at the domestic level will also aid power utilities in recovering bills and due payments from industrial customers on time, whereas the burden of circular debts in the energy sector can be partially impacted positively, he further said.
Raza also mentioned that the passage of relief to petroleum prices in the recent few weeks also curtailed the logistics costs of the industries, urging the government to further revise petroleum product prices at a domestic level.
Also Read: Govt Raises Rs 185 Billion through T-Bills as Cut-Off Yields
