PTI govt leaves export industry in the lurch

ISLAMABAD: In the presence of IMF Mission that will continue to be here till November 20, the PTI government has backed out from extending the subsidy to export industry in the head of electricity tariff which ECC had decided to lower down to 7.5 cents per unit with an aim to bring down the cost of doing business at par with the competitive economics of Bangladesh, India and Vietnam. According to one of the economic ministers, the subsidized electricity tariff of 7.5 cents (Rs9.75) per unit will be notified somewhere in the month of December to avoid the wrath of the Fund. However, the officials said this process may stretch more than two months’ time to get decision from Nepra. The official also apprehended the further delay in it arguing that Nepra chairman Brig (R) Tariq Saddozai is going to retire on November 18 and there are only two members in Authority left which is why the Nepra’s quorum will not be completed. Fearing the incomplete quorum, Nepra will not be able to decide on CPPA petition. So far CPPA has not submitted the petition with Nepra. The government may give extension to Nepra chairman to get the decisions under amended Act.