fbpx mmnews

NKATI rejects sudden rise in power tariff, demands withdrawal

Faisal Moiz Khan requested the Federal Government and Governor SBP, Reza Baqir to take steps to control fluctuations in the dollar (NKATI)

KARACHI: Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), has expressed deep concern over the sudden rise in electricity tariffs.

While rejecting the tariff hike by K-Electric, Faisal Moiz Khan demanded immediate withdrawal and asks to send electricity bills to the industries at the previous rates.

In a statement, Faisal Moiz Khan said that K-Electric has increased the electricity tariff by Rs2.87 per unit without any prior notice, and electricity bills are being sent to the industries as per the increased rates which have caused a wave of concern among the industrialists.

“Further increase in electricity tariff will lead to a sharp rise in the cost of industrial production and will make exporters unable to compete in international markets, which could lead to a decline in domestic exports”, he pointed out.

He further said that industrialists and stakeholders including NKATI must be taken into confidence before increasing the KE electricity tariff and exchange actual reasons for the increasing tariff so that the industrial community can set an estimate of the cost of production.

“The cost of production is determined by including KE and other utility charges, so the sudden increase in the tariff will definitely cause financial losses to the manufacturers”, NKATI president added.

Read more: NKATI appeals PM to defer EOBI audits for two years

Reiterating his demand for withdrawal of an increase in power tariff, Faisal Moiz Khan said that the COVID-19 pandemic has badly affected the economy of the world including Pakistan and most of the countries have provided relief to the industries to sustain and stabilize the economy.

On the contrary, measures are being taken in Pakistan to increase the cost of production by making the basic needs of industry extremely expensive, which is beyond comprehension”, he pointed out.