Increase in power rates on behest of IMF not acceptable: FPCCI

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Observer Report
Karachi

President and officer bearers of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have expressed serious concerns over the per unit increase in electricity rates.

The FPCCI was of the opinion that this all was being done on the behest and to meet the conditions of International Monetary Fund (IMF).

President FPCCI Mr. Nasser Hyatt Maggo rejected the government’s move of raising power, besides periodically increasing rates of petroleum products, which will have consequential effect on cost of production in industrial sector besides the sympathetic effect on ease of doing business and exports, vis-a-vis the economy as imagined by the Prime Minister.