President of Federal B Area Trade and Industries (FBATI), Syed RazaHussain, commends the decision to cut down the power tariff by 7 cents, providing some relief to industrial consumers nationwide. Hussain appreciates the caretaker government’s role in announcing the reduction, urging the upcoming government to consider further revisions to empower industries in significantly reducing their cost of doing business.
The goal is to enhance industrial production for both local and export markets. President FBATI also underscored the need for uninterrupted supplies of electricity to industrial consumers for a positive and attractive business climate, improving the investment climate of the country while attracting investment from local and foreign investors in multiple sectors ultimately.
Further, the competitiveness of the local brands with this decision will be improved, which will also support the growth of exports to various foreign countries, particularly the SMEs, he added. He also requested the interim government issue the notification immediately to revive hope for industrialists and businessmen to sustain their businesses on the road to recovery, growth, and development. Rationalizing the electricity tariff at the domestic level will also aid power utilities in recovering bills and due payments from industrial customers on time, whereas the burden of circular debts in the energy sector can be partially impacted positively.
