FEBR rejects continued hike in energy cost

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Staff Reporter
Islamabad

The Friends of Economic and Business Reforms on Sunday strongly reacted to the continued hike in electricity base tariffs, along with exorbitant hike in petrol prices, saying the government has declared another minibudget by burdening the trade and industry with billions of rupees new taxes in the form of huge increase in electricity, gas and petroleum rates.

FEBR President Kashif Anwar rejected the increase in power prices along with the periodic hike in rates of petroleum products.

He said the increase in power and fuel prices will increase the cost of production for the industrial section which in turn will impact the ease of doing business and exports. This will ultimately hit the economy as envisioned by the Prime Minister, he maintained.

Condemning the government’s move, he said the increase was being done to meet the conditions of the International Monetary Fund. It is unfortunate that Minister for Finance had pledged a day earlier that electricity tariff will not be increased.

 

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