Electricity Tariff Hike On Cards: Mian Zahid Hussain

Electricity tariff hike on cards: Mian Zahid Hussain

The Government failed to balance supply, demand for cotton

Karachi (Pakistan Point News - 02nd February, 2022) Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance and Former Provincial Minister Mian Zahid Hussain on Wednesday said as per the directions of the IMF the government is all set to increase the electricity tariff by 95 paisa per unit.
He said that NEPRA has also decided to allow more than Rs 3 per unit increase as the fuel price adjustment for December, which will affect the people and the business community.
Mian Zahid Hussain said that the prices of electricity, gas, and petroleum products are already at record levels which have made life difficult for the people and further increase in power tariff will further erode their buying power.
Talking to the business community, the veteran business leader said that instead of constantly increasing the price of electricity, the government should focus on reducing electricity theft and wastage and improve recovery, as well as the transmission and distribution system.
Mian Zahid Hussain further said that the government has failed to balance the supply and demand of cotton in the market due to which the stock of raw cotton in the country is rapidly depleting.


The scarcity of cotton will prove to be a major setback for the textile industry, which was showing encouraging signs despite the decision of the government to increase gas tariff from 6 dollars per mmbtu to 9 dollars per mmbtu which dented the confidence.
At present, big companies are trying to import cotton but small mills which cannot import are trying desperately to stay afloat.
Cotton imports will cost valuable foreign exchange and increase the trade deficit, he said, adding that mills can get cheap cotton only if the government imports it on a large scale.
Mian Zahid Hussain added that fundamental changes in key policies have crippled the business community's plans and wind-swept their confidence, which is affecting the economy.
Abrupt withdrawal of incentives and subsidies and major changes in the tax system have dented the business environment, which has influenced investment decisions.
The private sector is working to increase revenue through production and exports, to provide employment and to earn foreign exchange for the government.
The government should extend possible cooperation to this sector and avoid harassment.
Because of the lack of energy supply in Sindh and Balochistan, many factories have closed, while many are producing less than what they can, he observed.