KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Sheikh has rejected the Rs7.0562 per unit increase in power tariff under the fuel cost adjustment (FCA) for January, saying it would intensify hardships for the common man and industries.
Slamming the National Electric Power Regulatory Authority (Nepra), he said it was highly unfair to allow this massive and unprecedented increase in FCA for all categories with an excuse of variation in fuel charges.
In a statement, he said the Nepra’s decision would not only affect the budgeting of almost all the households but also terribly raise the costs for March for all types of manufacturing units across the country.
The business community, he added, had already been battling hard for survival due to the high cost of doing business, making Pakistani goods uncompetitive in the international market and unaffordable for the common man.
While urging the government to take notice of all the wrongdoings at Nepra, he said the regulator has been fearlessly and mercilessly giving the go-ahead to raise tariffs regardless of thinking of the repercussions on the economy, trade, industry and the lives of poor masses who were finding it impossible to pay their electricity bills.
Published in Dawn, February 28th, 2024
