LAHORE: The Pakistan Industrial and Traders Association Front (PIAF), while appreciating the National Electric Power Regulatory Authority for decreasing electricity price by Rs. 2.19 per unit for September under a monthly fuel adjustment formula, has urged the authority to cut the electricity rate on permanent basis. PIAF Chairman Irfan Iqbal Sheikh also welcomed the government plan to shut down all expensive oil-based power plants (IPPs) to ensure availability of cheaper energy for consumers. In a joint statement along with senior vice chairman Tanveer Ahmed Sufi and vice chairman Khawaja Shahzeb Akram, he lamented that the previous governments did not pay heed on rehabilitation and maintenance of old power plants which caused several system constraints inflicting heavy losses. He urged the Power Ministry to identify system constraints, communicate targets to all departments concerned to initiate up-gradation of transmission system on war footing. He called for completing all ongoing power projects well before time.
He said that production of hydropower had been increased while furnace oil price was constantly declining in the international markets. The authority, therefore, should not restrict the relief to one month only rather it should make decrease in the power tariff on permanent basis, he added. He said that business-friendly policies must be adopted as other neighbouring countries of the region were giving to trade and industry. The amount specified in trade policy should be utilised for the promotion of exports by giving incentives to trade and industry and by exploring new markets, he suggested. The chairman said the electricity price in Pakistan was already on the higher side, which was the main source of price-hike in the country.
He said provision of cheap electricity would help reduce production cost which would provide relief to the public. Irfan Sheikh said declining exports and widening trade deficit was posing a serious threat to economic growth and required to be tackled on priority basis.
Published in Daily Times, November 27th 2017.