LAHORE: The business community has criticised the government over proposed withdrawal of subsidy on power prices in forthcoming budget, which would make electricity more expensive for both domestic and industrial consumers.
Progressive Group President Khalid Usman, expressed its serious concern, the move will break the backbone of the industrial sector especially the export-oriented manufacturing units which are already facing tough competition in the international markets because of higher prices, electricity outages, sky rocketing gas tariff and other hardships.
He said that electricity tariff in India, Sri Lanka, Bangladesh and China were comparatively lower than Pakistan hence, they were able to produce goods at lower cost. Resultantly, Pakistani exporters were losing market share in export markets and the national economy was deprived of precious foreign exchange.
Meanwhile, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has taken a strong exception to the re-imposition of Gas Infrastructure Development Cess (GIDC) and called upon the federal government to immediately withdraw it.
In a statement issued here, FPCCI Regional Chairman/Vice President Khawja Zarar Kaleem said that the GIDC was not only a violation of Articles 8 and 18 of the Constitution but it would also give a deadly blow to the economic activities in the country.
The Supreme Court has already declared this case illegal confirming decision by PHC and SHC.
The FPCCI Vice President urged the government to facilitate growth of businesses which would automatically generate more tax revenue, create more jobs and increase exports instead of introducing such harsh measures.
