KARACHI: The business community is contemplating going on strike due to the government’s lack of interest in addressing their concerns regarding the exorbitant and unbearable rise in electricity tariffs, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Friday.

In a statement, FPCCI President Irfan Iqbal Sheikh said there is no way that businesses can pay Rs55-60 per kWh or per unit of electricity when accounting for all billing components, i.e., base tariff, sales tax, income tax, excise duty, fuel adjustment charges (FAC) and fixed charges.

He said the full impact of the increase of Rs7.91 per kWh has taken effect as of September 1, and now there is no justification left to keep levying fuel adjustment charges and fixed charges on electricity bills. These should be reversed and waived immediately, he demanded.

The statement said that the decision was taken after receiving feedback from 250 trade associations and chambers under the umbrella of FPCCI.

Prime Minister Shehbaz Sharif and Finance Minister Miftah must assess the brewing frustration and impending bankruptcies among businessmen as soon as possible and begin the necessary consultative process with them; otherwise, there will be irreversible losses in employment, revenue collection, exports, and economic growth, the statement said, quoting the FPCCI chief.

The FPCCI chief said that the government has been informed that higher power tariffs are forcing busines­ses, industry, and traders’ community to go on strike.

Mr Sheikh said he is under tremendous pressure from all trade bodies, associations, chambers of commerce and sectors to negotiate with the government on their behalf. This is the most unfortunate situation of my tenure as the president of the FPCCI, he added.

He said that despite the fact that the business community is the most peaceful and law-abiding community and generates taxes and employment, they are being incessantly forced to resort to agitation and strikes.

He urged the government to listen to the collective concerns of the business community at the earliest.

Published in Dawn, September 3rd, 2022