Accord with IPPs lauded to reduce tariff

Islamabad:The Islamabad Chamber of Commerce & Industry (ICCI) has lauded the move of the government to sign a basic agreement with the Independent Power Producers (IPPs) to reduce power tariffs and provide cheap electricity to the end consumers terming it a highly positive development that would help in bringing down the cost of doing business and facilitating the growth of business activities.

Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry said that electricity cost in Pakistan was very high in the region, which was a major cause of high production cost making our exports uncompetitive in the international market. He said that high power tariffs were also a discouraging factor for the potential investors as capital always moved towards the destinations where manufacturing cost was quite reasonable.