July 24, 2023 (MLN): The business community has strongly opposed frequent power tariff increases and warned to protest if prices continue to rise, said a press release issued by Sarhad Chamber of Commerce and Industry (SCCI).
“Such increase will have negative consequences on both the overall economy and the growth of the industrial sector,” the statement added.
The community expressed their concerns that the government's actions of raising power and gas tariffs and imposing additional taxes have contributed to their hardships.
As a result, the community has requested a revision in power tariffs.
The availability of electricity does not match the amount of money consumers are paying for it, as the Khyber Pakhtunkhwa (KP) province produces low-cost electricity, however, domestic, commercial and industrial consumers are deprived of electricity despite paying heavy taxes, Ijaz Khan Afridi, acting president of the Sarhad Chamber of Commerce and Industry highlighted.
“The consistent electricity tariff hike, the cost of industrial production has massively increased which had brought inflation and hit poor people of the country,” the acting president further added.
Also, he added it had been made hard to run businesses and industries after collecting heavy tariffs on power bills.
Moreover, these high tariffs on power bills create challenges for industries in managing their costs, ultimately leading to issues of survival.
As per Ijaz Khan Afridi, there is a need for certain actions to place the economy on the right path, that is by solving the concerns of the traders community.
While addressing the matter, the SCCI's acting chief viewed the strike call by the petroleum association as an indication of weak economic policies.
The imposition of Rs438 billion in additional taxes FY23-24 is a clear reflection of weak policies by the government.
He urged the government to consider all genuine demands of the association to avoid negative impacts on business, industrial activities, and the overall economy that may arise from the suspension of petroleum product supply.
Afridi also expressed concern over the government’s decision to collect Radio fees in power bills.
“How the national economy will flourish and how the business community will be prosperous and give a boost to their business and industries in the prevailing circumstances?” he questioned.
In order to lead the country to sustainability the government should implement business-friendly policies, as the business sector can drive economic growth of the country.
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Posted on: 2023-07-24T12:18:29+05:00
