President FPCCI Irfan Iqbal Shaikh has said that Pakistani people and businesses are facing unaffordable electricity prices and Nepra has decided to increase the price of electricity purchase in the financial year 2023-24
Lahore (Pakistan Point News - 30th Aug, 2023) President FPCCI Irfan Iqbal Shaikh has said that Pakistani people and businesses are facing unaffordable electricity prices and Nepra has decided to increase the price of electricity purchase in the financial year 2023-24. The latest forecasts indicate further financial burden. It should be noted that electricity consumers in Pakistan have to pay up to 68% of the costs for payments in terms of capacity charges; Which mainly benefits the coal plants.
Additionally, fuel charges, particularly petroleum imports, cause fluctuating pressures on foreign exchange reserves; For which there is no clear solution; FPCCI categorically rejects the recent hike in electricity prices; President FPCCI Irfan Iqbal Shaikh said that a better and more viable option should be explored with the IMF to stop revolving credit and provide affordable electricity to consumers. The immediate solution to reducing electricity rates is to reduce the operational costs of all power distribution companies, i.
e. withdraw free power supply to WAPDA employees, reduce transmission losses and address power theft immediately. But be stopped. In addition, negotiations should be conducted with power plants to extend the period of payment to them by the government to reduce capacity charges in electricity tariffs. We call on the government to freeze the implementation of sales tax for 6-8 months; Malik Sohail Talat strongly demanded from the caretaker government that the electricity contracts of all the previous governments should be investigated and all the corrupt including IPPs, rental power should be punished.
The rulers of the Pakistani nation. He said that we are not related to any political party, our party is only Pakistan. Convenor Cotton Restoration Committee Malik Tanveer Arshad said that for the restoration of agriculture, industry and trade, there is an urgent need to restore electricity. It should be reduced. Senior Vice Chairman PCGA and President Sukkur Chamber Bilal Khan said that in many discos up to 50% of the stolen debris is being imposed on the rest of the customers. Action should be taken and crack down to stop electricity theft.
