Escalating Energy Costs Pose Threat to Industries, Job Market, and Inflation


Karachi: Industrialists express concerns over the rising gas and electricity tariffs, warning of potential closures of industries, unemployment surge, and inflationary pressures.

President of the Federal B Area Association of Trade and Industry (FBATI), Syed Raza Hussain, highlighted the adverse effects of gas tariff hikes on small and medium-sized enterprises, emphasizing potential job losses and inflationary impacts.

Industry leaders, including Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh and Hyderabad Chamber of Small Traders and Small Industry President Muhammad Farooq Shaikhani, called for a reevaluation of government policies and energy pricing frameworks to alleviate financial burdens on industries and consumers.

Criticism was directed at the caretaker federal government for neglecting renewable energy production, leading to increased fuel prices approved by the National Electric Power Regulatory Authority (NEPRA).

Hyderabad Chamber of Commerce and Industry (HCCI) President Adeel Siddiqui urged the rehabilitation of closed powerhouses and investment in research and technology to enhance energy production efficiency. He proposed utilizing locally produced coal to operate power plants and emphasized the need to improve the performance of power distribution companies.

The industrial sector calls for urgent measures to address escalating energy costs and safeguard the economy from further destabilization.
Story by Gohar Ali Khan

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