Business

Reduction in power tariff demanded

Electricity prices to be reduced to 9 cents per unit for all industries while contracts with IPPs to be revisited

Our Correspondent June 06, 2024

Over the first ten months of the current fiscal year 2023-24, power generation witnessed a 3% drop, totalling 100,980 GWh compared to 103,593 GWh during the same period in the previous year. photo: REUTERS

LAHORE:

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded that the government immediately reduce the interest rate to 12%.

Electricity price should be reduced to 9 cents per unit for all industries while contracts with the independent power producers (IPPs) should be revisited, it said.

FPCCI Regional Chairman and Vice President Zaki Aijaz, while addressing a press conference at the FPCCI Regional Office on Wednesday, underscored that cross-subsidies of Rs240 billion should be eliminated and taxes on the retail sector should be collected at the final stage.

He stressed that the concept of non-filers of tax returns should be abolished with stricter conditions for such people.

Industries in the erstwhile Federally Administered Tribal Areas (Fata) and the Provincially Administered Tribal Areas (Pata) had benefited greatly and should be taxed in a phased manner in the next two to three years, he demanded.

Published in The Express Tribune, June 6^th, 2024.

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COMMENTS (1)

sheikh Asif Rashid | 5 months ago | Reply Such illiterate and idiots are sitting in the FINANCE MINISTRY RAISING POWER AND GAS RATES AND CRIPPLING THE LOCAL INDUSTRY.THEMSELVES USING FREE GAS FREE POWER FREE PETROL AND OTHER PERKS.ALLAH S AZAAB BE FOR THESE ZALIMS.

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