Staff Reporter
Islamabad
President, ICCI Muhammad Ahmed Waheed has called upon the government to immediately reduce the price of electricity for promoting industrialization, investment and exports. He said that industrial development was essential to stabilize the fragile economy of Pakistan but the high cost of electricity was a major stumbling block in the way of business and industrial development.
In a statement on Tuesday, Muhammad Ahmad Waheed said there was a need for the government to reduce the electricity tariff in proportion to the reduction made in the prices of petroleum products. He said that despite significant cut in POL prices, the government has increased the price of furnace oil from Rs.40,000 per metric tonne to Rs.61,000 per metric tonne within two months which was unjustified.
