Electricity payments: ‘Rebate overbilled money,’ demands KPCCI president

Reiterates demand for economic stimuli for the province

PESHAWAR:

Led by Khyber-Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) President Fawad Ishaq, traders on Thursday urged the federal government to reimburse money received from consumers in overbilling of electricity and treat the province equally like the rest of the country.

“More than Rs70 billion has been overbilled to the consumers in the country which should be adjusted immediately in the coming month’s electricity bills,” said KPCCI President Fawad Ishaq while addressing a news conference on Thursday.



Ishaq said while Khyber-Pakhtunkhwa (K-P) is facing a capital flight, the banking industry has already declared the province as a red zone. “Bank lending that stood at 9% some two decades back is hardly around 1% today,” said Ishaq. “The State Bank of Pakistan told us that it is only a regulatory body and is powerless at getting banks to invest in the province.”

Ishaq reiterated the demand for economic stimuli for the province similar to the package issued in 2010 which provided relief from taxes. He explained that tax cuts were allowed because of the law and order situation at that time and the situation is worse today.

“A meeting of Pak-Afghan traders will soon be convened in order to resolve common issues,” said Ishaq. He added the federal government has agreed to amend the Afghanistan-Pakistan Transit Trade Agreement (APTTA) in order to boost business activity.

Community woes

Traders at the conference said not a single business unit has been set up in the province during the last several years, while existing businesses are either on the verge of shutting down or relocating to other parts of the country.



They added that the province contributes 500mmcf of natural gas to the national produce while it consumes hardly 200mmcf. Under Article 158 of the Constitution, provinces hold the right to utilise their natural resources for their own development but even new gas connections are not allowed in K-P, claimed traders.

They urged the K-P government to implement an industrial policy in the province and to declare the Risalpur export processing zone as a full industrial estate so that traders are allowed to export to Afghanistan directly.

Participants of the news conference also asked for the establishment of an expo centre and a dry port in Peshawar, construction of Torkham Road and a computerised system at Torkham customs station.

Published in The Express Tribune, October 17^th, 2014.