(July 20, 2020)
President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, FPCCI’s Businessmen Panel Sr. Vice Chairman, and former provincial minister Mian Zahid Hussain on Monday asked the Prime Minister Imran Khan that electricity tariff should not be increased for Karachi while power utility should be asked to reduce power theft and line losses.
He said that a hike of Rs2.89 will hit masses, damage production, and compromise exports and its repercussions would be felt across the country.
Mian Zahid Hussain said that Karachi is a commercial and industrial hub of Pakistan and a slight increase in the cost of any input hits the whole population as well as exports.
Talking to the business community, the veteran business leader said that government should think twice before increase the cost of input for industrial centers.
The former minister noted that masses, as well as the business community, is already consuming costliest energy in the region and continued hike in the tariff promotes corruption.
Inefficiency, incompetence, cronyism, undue patronage, political interference, and other ills have made power sector a grave threat for the economy while the power sector regulator is as useless as departments regulating other sectors.
He said that government is wasting heavy amount on NEPRA which has given free hand to the power companies.
The business leader noted that lockdown amid economic slowdown has shocked majority and now unannounced load shedding is hurting people and productive sectors.
The government should provide relief to masses in such a challenging environment and should not add to their problems, he observed.
He said that electricity tariff should be reduced to trigger production, exports and employment as Karachi can never prosper in the presence of K-Electric which is only concerned with maximizing profit.
More power companies should be established for Karachi to create a competitive environment, he said, adding that giving power production and distribution to one company is as good as giving it a double-edged sword.