KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahm­ed Sheikh has rejected the Rs7.0562 per unit increase in power tariff under the fuel cost adjustment (FCA) for January, saying it would intensify hardships for the common man and industries.

Slamming the National Electric Power Regulatory Authority (Nepra), he said it was highly unfair to allow this massive and unprecedented increase in FCA for all categories with an excuse of variation in fuel charges.

In a statement, he said the Nepra’s decision would not only affect the budgeting of almost all the households but also terribly raise the costs for March for all types of manufacturing units across the country.

The business community, he added, had already been battling hard for survival due to the high cost of doing business, making Pakis­tani goods uncompetitive in the international market and unaffordable for the common man.

While urging the government to take notice of all the wrongdoings at Nepra, he said the regulator has been fearlessly and mercilessly giving the go-ahead to raise tariffs regardless of thinking of the repercussions on the economy, trade, industry and the lives of poor masses who were finding it impossible to pay their electricity bills.

Published in Dawn, February 28th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...