LAHORE-Lahore Chamber of Commerce & Industry has urged the government to bring down the electricity tariff as cheap energy is a must to strengthen the industrial base.

In a statement issued on Wednesday, LCCI President Irfan Iqbal Sheikh welcomed the government decision of reversing the decision of increase in power tariff for the export sector, saying cottage and other industries should also be given relief. He said that increases in electricity prices or additional charges were no solution to the power sector problems. The government should address inefficiencies in the system.

“These inefficiencies are actually an unjust tax on honest power consumers. The industrial sector as a whole pays its dues in-time and there is no line losses/theft in most of the industrial estates”, the LCCI President added. He said that power sector planners should take cue from the efficient distribution companies where line losses were the lowest. He said that Pakistan needed development of renewable energy resources. Government should encourage local and foreign investors to invest in this particular area, he said.

He said that being a developing country, Pakistan could not afford to rely on costly and anti-environment fossil fuels. He said that country was spending huge foreign exchange on oil import.