SaquibFayyazMagoon, Acting President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has urged the Sindh Government to address the pressing issue of capacity charges levied by independent power producers (IPPs). Magoon highlighted that these charges are hampering the installation of new industries and challenging the survival of existing ones in the province.
The soaring electricity tariffs have become a significant burden on industrialists, he added. During a visit to the Federation House on Monday, Jam IkramullahDharejo, provincial minister for Industries and Commerce, engaged with the business and trade community to discuss their concerns. Magoon pointed out that industrial plots in Karachi’s established areas have escalated to PKR 300-350 million per acre, which is unfeasible for genuine industrialists.
He advocated for reducing this cost to a maximum of PKR 20 million per acre. Magoon also criticized the lack of representation of various Sindh chambers in the Sindh Industrial Board and called for their inclusion to better address the needs of all sectors and regions. He emphasized the need for a comprehensive industrial policy for the province, developed in consultation with the business community.
AmanParacha, VP FPCCI, raised concerns about law and order issues affecting industrialists, including incidents of harassment, violence, and theft, which deter potential investors. Abdul Mohamin Khan, VP FPCCI, stressed the need for completed primary infrastructure in industrial and economic zones to attract national and international investors. In response, Jam IkramullahDharejo announced that the Sindh government is committed to supporting FPCCI in renegotiating and restructuring IPP contracts. He also pledged to address the issue of overbilling with the National Electric Power Regulatory Authority (NEPRA) and invited industrialists to approach him with any overbilled electricity bills. Dharejo reaffirmed his vision for Sindh’s industrialization and promised to incorporate feedback from the business community into the industrial board, ensuring an inclusive approach to provincial development.
