ISLAMABAD - The Islamabad Chamber of Commerce & Industry has showed concerns over the proposed increase in power tariffs by the current government as it would further enhance the cost of doing business and put more burden on the common man. Therefore, it called upon the government to reconsider its decision.
Sheikh Amir Waheed, president of Islamabad Chamber of Commerce & Industry, said that Prime Minister Imran Khan has reportedly approved Rs.2 per unit increase in electricity tariff and 46 percent increase in gas tariff which was a cause of concern as it would make Pakistani exports more uncompetitive in international market leading to further slump in exports, squeeze purchase powers of the common man and bring harmful consequences to the business activities. Sheikh Amir Waheed said that the trade and fiscal deficits of Pakistan were on the rise and the best way to overcome these deficits was to promote Pakistan’s trade and exports by creating conducive environment for business sector.
However, he said that such measures of the government would affect exports and create more problems for the economy. He urged that the government should reconsider its decision of hiking the electricity and gas tariff in order to save the people as well as the economy from further troubles.
Muhammad Naveed Malik, senior vice president and Nisar Mirza, vice president ICCI, said that the Economic Advisory Council has reportedly advised the government not to increase electricity and gas tariff and focus on broadening the tax base, which was a very wise advice. They said that instead of raising tariffs, government should try to act upon the advice of EAC to achieve beneficial results for the economy.