President Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Zubair Tufail has backed Nepra’s decision to introduce a new tariif model for K-Electric allowing a tariff cut of Rs 3.5 per unit. FPCCI is of the view that rising electricity prices have been leading to a slowdown of economic growth as well as raising the cost of production.
FPCCI stated that the decision has been long awaited since the global fall in crude oil/gas prices. People in Karachi have been paying high electricity bills to K-Electric for the last few years and industrialists have also been suffering since high energy prices have been leading to high costs of production rendering their products uncompetitive in global markets.
Hence, the decision of NEPRA will lead to benefit for the consumers in view of efficiency gains as well as falling oil prices.