Karachi, December 30, 2015 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI) Younus Muhammad Bashir has hailed cut in electricity tariff by 3 rupees per unit for industrial consumers all over Pakistan which was announced by Prime Minister Mian Muhammad Nawaz Sharif during his recent visit to Karachi.
In a statement issued, President KCCI said that this desperately needed cut in electricity tariff for industrial consumers would help in bringing down the cost of doing business, ease the inflation and enable Pakistani exporters to compete in the international markets.
“The business and industrial community of Pakistan, particularly Karachi city, warmly welcome this pro-business step which is surely a ‘sigh of relief’ for all of us after a long time”, he added.
Younus Bashir was of the opinion that due to rising cost of doing business, the businessmen and industrialists were finding it very hard to stay afloat and the same was depicting in Pakistan’s descending exports, triggering anxiety amongst exporters and thus, impelling the government to take remedial steps which has been wisely done by providing relief to the industry in shape of cut in electricity tariff.
He recalled that Industry and Trade were put under immense pressure due to higher electricity and gas prices under the auspices of the IMF program on numerous occasions but now, this relief in electricity bills would surely prove to be beneficial for the entire business and industrial community in general and the economy in particular.
Commenting on demand-supply gap, President KCCI noted that although many projects have been initiated to meet electricity demand but they were still not enough and lot more needs to be done as Pakistan’s energy demand was above 20,000 Megawatts against the production of around 11,500 megawatts.
He hoped that the present government would continue to focus on creating a pro-business and enabling environment for the business and industrial community which was very essential in order to deal with all the ills currently being faced by the country. In this regard, he asked the government to also pay attention to the difficult regulatory environment for starting a new business, non-availability of electricity, water and gas and the hardships in paying taxes. Such a situation needs to be tackled on urgent basis with a view to improve the overall business environment in the country, he added.
Younus Bashir opined that businesses can grow better in a stable environment where there is certainty of government regulations and policies. Stable policies have their own benefits which enable a company to plan and decide on the business modalities and the viability of entering new ventures or undergo expansions.
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Karachi Chamber of Commerce and Industry (KCCI)
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