FPCCI demands reduction in energy prices

The main reason for the dismal performance of the export sector was the much higher energy prices

APP November 15, 2017

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to cut electricity and gas rates for the industrial sector in order to boost employment, production and exports.

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“The high cost is hitting production and exports, therefore, the government should immediately cut electricity and gas tariffs to stabilise the economy,” said FPCCI President Zubair Tufail.

A prompt decision on rationalising energy prices would help enhance international competitiveness of Pakistan’s products, he said in a statement. The government should spare some resources and take immediate decision to control the decline in exports, which had created many problems for the country, he added.

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The main reason for competitive disadvantage and the dismal performance of the export sector was the much higher energy prices for Pakistani exporters compared to those of neighbouring and regional countries, he said.

Published in The Express Tribune, November 15th, 2017.

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