The Karachi Chamber of Commerce and Industry (KCCI) and industrialists are urgently appealing to the government for the release of Rs7 billion and a decision on the remaining Rs21 billion pending against the incremental consumption of electricity. Additionally, they are urging the immediate issuance of a notification for the reduced power tariff of 9 cents per kilowatt-hour (kWh) for industrial consumers.
The industrialists highlight the considerable challenges faced by Karachi-based industries, with many small and medium-sized enterprises (SMEs) shutting down production and larger manufacturing units on the verge of collapse. The primary issues include high energy tariffs, currency depreciation, soaring borrowing costs, and increased input expenses.
KCCI President Iftikhar Ahmed Sheikh emphasizes the injustice of funds being released across Pakistan except in Karachi. He calls for the government to fulfill commitments to release the pending Rs28 billion against incremental consumption. Sheikh further urges the immediate implementation of the decision to allow a power tariff of 9 cents/kWh for industrial consumers in Karachi.
Supporting these demands, SITE Superhighway Association of Industry (SSHAI) President Shaheen Ilyas Sarwana highlights the disparity faced by Karachi industries compared to the rest of the country. While acknowledging potential delays due to governmental processes and the involvement of the International Monetary Fund (IMF), Sarwana stresses the urgency of addressing Karachi’s industrial concerns.
Nepra and Ogra Standing Committee Chairman Rehan Jawed adds that, despite the budgeted and approved subsidy, a stay order has hindered the receipt of Rs29 billion. He emphasizes the need for prompt action to address these issues, considering the potential risk of industrial shutdowns and their adverse effects on the economy and unemployment.
