SCCI rejects electricity price hike by Rs1.6 per unit on head of FPA

F.P. Report

PESHAWAR: The Sarhad Chamber of Commerce and Industry has rejected the recent increase in electricity tariff up to Rs1.6 per unit on head of fuel price adjustment (FPA), demanding the hike should be withdrawn immediately.

Sherbaz Bilour, the president of SCCI while talking to different delegations of traders and industrialists here at his office in chamber house on Monday, said that the businesses and industrial sector have hit hard by the novel coronavirus pandemic and being faced difficult to revive under the persistent unfavourable environment.

“Yet another increase in electricity prices is completely unjust with the general masses, especially the business community while keeping in view the current stagnation in businesses and industries” says SCCI chief.

Following the electricity price hike by 29 paisa per unit made in the month of October, Sherbaz Bilour said that the NEPRA has again made an increase of Rs1.6 per unit on head of fuel price adjustment (FPA) for October and November.

As for November’s fuel price adjustment, he informed that the increase in electricity price will be by Rs0.77 per unit. He added that the increase in the price of electricity will impose an additional burden of Rs8.40 billion on consumers, terming it as a completely unfair, unjust and ‘anti-businesses’ industry.

Sherbaz Bilour went on to say that KP is producing low cost electricity despite that it was purchasing electricity at exorbitant rates, which was completely unfair and unjust with people of this province.

He added that the cost of industrial productivity has not increased due to gradual increasing prices of electricity, but it has also surging rates of daily essential items, which are directly affecting the poor masses.

SCCI chief said the recent hike in electricity tariff for October and November on head of fuel price adjustment would affect the national economy, especially the manufacturing sector, which would subsequently halt the industrial process.

On one hand, he said the government was increasing prices of electricity, while electricity is not supplying smoothly to industries, saying that the issues like, tripping, low voltage and electricity loadshedding are badly affecting industrial productivity and process.

The chamber president demanded the federal government to immediately withdraw the recent hike in electricity tariff and to ensure uninterrupted power supply to industries across the province.