Business

Record hike in power
tariff unacceptable: PEW

Written by The Frontier Post

F.P. Report

ISLAMABAD: The Pakistan Economy Watch (PEW) on Monday said the plan to increase power tariff by six rupees per unit is unacceptable as it will damage masse, hit the economy as well as export sector.

Such a decision is intolerable as it will make life more difficult therefore it should be reversed without delay, said Dr. Murtaza Mughal, President PEW.

In a statement issued here today, he said that like all other sectors, the agricultural sector of the country is failing due to the indifferent attitude of the policymakers.
The rehabilitation of this important sector is not a preference for the government and masses have been left at the mercy of the influential food mafia, he added.

Dr. Murtaza Mughal said that the government cannot improve the agriculture sector therefore steps should be taken to lure foreign investment in this sector to improve its productivity.

Foreign investment should be encouraged in the agriculture sector in a way that it does not affect the national interests and the interests of the farmers, he demanded.

He said that the credit for the increased textile exports goes to global conditions rather than domestic policies. Western countries have reduced buying from China which has boosted exports of all other textile exporting countries including Pakistan, India, Bangladesh and Vietnam etc.

Pakistan’s textile exports are growing but foreign investors are also shifting dollars abroad, he said, adding that in the first seven months of this year, Pakistan’s textile and garment exports have recorded a growth of 24.73%.

Now the weather has improved, gas supply to the industry is also being restored which will benefit it but the continuous rise in electricity prices will remain worrisome and if the record of increase in electricity tariffs is set then the export sector may become lifeless.

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