Islamabad Chamber of Commerce and Industry (ICCI) former President, Shahid Rasheed Butt on Saturday said the business community rejects fifteen percent hike in the tariff of electricity on the behest of IMF.
In a statement issued here, he said that masses can’t bear the latest shock as they were already facing unemployment and unprecedented inflation.
Shahid Rasheed said that the decision, which came six days after hiking in the price of petroleum products, should be reversed immediately in the interest of masses.
The policy of blaming the former government for everything to absolve the current administration of responsibility is no longer acceptable to masses after two and a half years in power, he added.
The former ICCI President noted that government functionaries have repeatedly claimed to reduce power tariff and circular debt but the ground reality is contrary to their claims.
He said the government continues to avoid reforms in the dysfunctional power sector and rely on tariff hike but it has not improved the situation as recoveries have been reduced by five percent and losses have increased by 1.5 percent under the PTI rule.
The government has also planned to increase power tariff once again in the month of April which will shock people again while pleasing the lenders, he informed.