Businessmen, traders and industrialists, in a continuing row with the government over surge in electricity tariffs, are considering going on strike and have demanded immediate withdrawal of the high levy being collected on account of fuel cost adjustment (FCA).
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh, while conveying a strong message to the government, said that it was not attending to their genuine concerns over the hefty, unbearable and unrecoverable rise in electricity tariffs.
Representing 250 trade associations and chambers under the umbrella of FPCCI, he said that the prime minister and finance minister needed to immediately take notice of the frustration and impending bankruptcies, and start the much-needed consultative process with the business community.
Else, “there will be a huge rise in unemployment and irreversible loss to the revenue collection, exports and economic growth”.
The FPCCI chief reiterated that there was no way that businesses could pay the tariff of Rs55-60 per kilowatt-hour (kWh), which came after accounting for all billing components, ie base tariff, sales tax, income tax, excise duty, FCA and fixed charges.
Sheikh pointed out that the tariff increase of Rs7.91 per kWh had come into effect on September 1, 2022 and now there was no justification left with the government to keep increasing the FCA and fixed charges on electricity bills.
Furthermore, he said he was being pressed by all trade bodies, associations, chambers and sectors to negotiate with the government on their behalf.
“The business community is the most peaceful and law-abiding community. It runs the economy and the country through generating taxes, employment and economic growth.”
However, forced by the situation, they were resorting to agitation and strikes.
Published in The Express Tribune, September 3rd, 2022.
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