F.P. Report
ISLAMABAD: The business community has strongly opposed the government’s new solar policy, urging authorities to retain the previous framework,
Addressing a press conference in Islamabad, FPCCI president Atif Ikram Sheikh rejected the policy, criticising the government’s decision to purchase solar electricity at Rs10 per unit instead of Rs27, calling it unacceptable.
SM Tanveer, Patron-in-Chief of united Business Group, questioned the government’s delay in negotiations with state-owned Independent Power Producers (IPPs), arguing that timely discussions could reduce electricity cost by over Rs4 per unit.
He also pointed out the lack of finalization on arguments with bagasse-base-IPPs.
Tanveer demanded that interest rates be brought down to single digits, revealing that Rs500 billion worth of industries have shut down, leading to 1 million job losses.
He called for a long-term industrial plan to revive economic growth and ensure business sustainability.
