Friday, December 9
Shadow

NKATI rejects sudden rise in power tariff, withdrawal demanded

Karachi, October 27, 2020 (PPI-OT):Faisal Moiz Khan, President North Karachi Association of Trade and Industry (NKATI), has expressed deep concern over the sudden rise in electricity tariffs and rejected the tariff hike by K-Electric, demanded immediate withdrawal and asks to send electricity bills to the industries at the previous rates.

In a statement, Faisal Moiz Khan said that K-Electric has increased the electricity tariff by Rs2.87 per unit without any prior notice and electricity bills are being sent to the industries as per the increased rates which has caused a wave of concern among the industrialists. “Further increase in electricity tariff will lead to a sharp rise in the cost of industrial production and will make exporters unable to compete in international markets, which could lead to a decline in domestic exports”, he pointed out.

He further said that industrialists and stakeholders including NKATI must be taken into confidence before increasing the KE electricity tariff and exchange actual reasons for the increasing tariff so that the industrial community can set an estimate of the cost of production. “The cost of production is determined by including KE and other utility charges, so the sudden increase in the tariff will definitely cause financial losses to the manufacturers”, NKATI president added.

Reiterating his demand for withdrawal of increase in power tariff, Faisal Moiz Khan said that the COVID-19 pandemic has badly affected the economy of the world including Pakistan and most of the countries have provided relief to the industries to sustain and stabilize the economy. On the contrary, measures are being taken in Pakistan to increase the cost of production by making the basic needs of industry extremely expensive, which is beyond comprehension, he pointed out. Faisal Moiz Khan further said that if the government wants to see the country economically stable, it should provide relief to the industries otherwise it will have a very negative impact on the country economy.

For more information, contact:
North Karachi Association of Trade and Industry (NKATI)
Plot No. ST 1/1, Sector 12-C, North Karachi Industrial Area, Karachi, Pakistan
Tel: +92-213-695-1695
Fax: +92-213-690-8269
Email: northkati@gmail.com, association@nkati.org
Website: http://nkati.org/

The post NKATI rejects sudden rise in power tariff, withdrawal demanded appeared first on Business News Pakistan.

NKATI rejects sudden rise in power tariff, withdrawal demanded

Karachi, October 27, 2020 (PPI-OT):Faisal Moiz Khan, President North Karachi Association of Trade and Industry (NKATI), has expressed deep concern over the sudden rise in electricity tariffs and rejected the tariff hike by K-Electric, demanded immediate withdrawal and asks to send electricity bills to the industries at the previous rates.

In a statement, Faisal Moiz Khan said that K-Electric has increased the electricity tariff by Rs2.87 per unit without any prior notice and electricity bills are being sent to the industries as per the increased rates which has caused a wave of concern among the industrialists. “Further increase in electricity tariff will lead to a sharp rise in the cost of industrial production and will make exporters unable to compete in international markets, which could lead to a decline in domestic exports”, he pointed out.

He further said that industrialists and stakeholders including NKATI must be taken into confidence before increasing the KE electricity tariff and exchange actual reasons for the increasing tariff so that the industrial community can set an estimate of the cost of production. “The cost of production is determined by including KE and other utility charges, so the sudden increase in the tariff will definitely cause financial losses to the manufacturers”, NKATI president added.

Reiterating his demand for withdrawal of increase in power tariff, Faisal Moiz Khan said that the COVID-19 pandemic has badly affected the economy of the world including Pakistan and most of the countries have provided relief to the industries to sustain and stabilize the economy. On the contrary, measures are being taken in Pakistan to increase the cost of production by making the basic needs of industry extremely expensive, which is beyond comprehension, he pointed out. Faisal Moiz Khan further said that if the government wants to see the country economically stable, it should provide relief to the industries otherwise it will have a very negative impact on the country economy.

For more information, contact:
North Karachi Association of Trade and Industry (NKATI)
Plot No. ST 1/1, Sector 12-C, North Karachi Industrial Area, Karachi, Pakistan
Tel: +92-213-695-1695
Fax: +92-213-690-8269
Email: northkati@gmail.com, association@nkati.org
Website: http://nkati.org/

The post NKATI rejects sudden rise in power tariff, withdrawal demanded appeared first on Business News Pakistan.