FBATI welcomes power tariff cut

KARACHI: The industrial sector welcomed the caretaker government's decision to slash the power tariff by 7 cents per kilowatt hour (KWh), saying it would boost production and exports.

Syed Raza Hussain, president of the Federal B Area Trade and Industries (FBATI), said the lower power tariff would give some relief to industrial consumers across the country, who have been struggling with high energy costs.

President FBATI in a statement also underscored the need for uninterrupted supplies of electricity to industrial consumers for a positive and attractive business climate, improving the investment climate of the country while attracting investment from local and foreign investors in multiple sectors ultimately.

Further, the competitiveness of the local brands with this decision will be improved, which will also support the growth of exports to various foreign countries, particularly the SMEs, he added.

Hussain also requested the interim government issue the notification immediately to revive hope for industrialists and businessmen to sustain their businesses on the road to recovery, growth, and development.

"Rationalizing the electricity tariff at the domestic level will also aid power utilities in recovering bills and due payments from industrial customers on time, whereas the burden of circular debts in the energy sector can be partially impacted positively."