Faisalabad Chamber Of Commerce And Industry Demands Duty Free Coal

Sumaira FH Published March 24, 2018 | 07:08 PM

Faisalabad Chamber of Commerce and Industry (FCCI) has demanded duty free coal for power sector.

FAISALABAD, (UrduPoint / Pakistan Point News - 24th Mar, 2018 ) :Faisalabad Chamber of Commerce and Industry (FCCI) has demanded duty free coal for power sector. Commenting on the ill impacts of recent increase in C&F on imported coal, President FCCI Shabbir Hussain Chawla said on Saturday that coal-based independent power plants were facing serious threat of closure as increase in the price of imported coal and depreciation of Pak rupee had totally eroded the profitability of the important segment of national economy.

He said that during the last nine months, the price of coal had jumped from $90 to 103. This huge increase of 14 per cent coupled with 10 percent decrease in Pak Rupee value had made it impossible for power producers to run their units in the prevailing situation.

He demanded that the government must withdraw 5pc import duty on coal in addition to permission for duty-free import of coal for the private power plants.