LAHORE: President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik has said that Prime Minister Imran Khan’s prudent decision of flat tariff extension package for Industry till June next will accelerate economic activities and boost industrial production besides bolstering export.
Talking to a delegation of industrialists led by Mian Aftab Zia Arain he said that Industry under this package will further benefit and industrial units of B3 and B4 categories will continue to get electricity at flat rate of Rs12.96 per unit which he added is a good decision at right time in right direction. He said that federal government in this regard had already earmarked Rs26 billion amount of subsidy for next fiscal year ending on June 30.2022.
He said NEPRA ( National Electric Power Regulatory Authority) has also approved same package across the country without the application of expensive peak charges. He said that industrial support package had contributed significantly to growth in industrial output and resultantly the economic growth rate.
Iftikhar Ali Malik said this package of cheap electricity will bring down the cost of production and ultimately help a lot Pak exporters to compete globally in international markets especially with their neighbouring competitors. He said provision of 7/24electricity to Industry will also play key role in timely meeting the export targets at their foreign destinations.
He hoped that under the dynamic leadership of Imran Khan after bearing the brunt of previous governments corruption based power policies now “country starts moving towards prosperity with sustainable economic growth”. He said IPPs expensive electricity caused price hike and inflation in the country and poor segments of the society suffered a lot. He said cheap power is imperative for the survival of the industry which he added is only possible through launching of new hydropower projects.
Iftikhar Ali Malik expressed his gratitude to prime minister and federal finance minister Jehangir Tarin to accepting their major chunk of demands in budget and assured full cooperation on behalf of business community for economic revolution in the country which is must for the survival of state.
