15 October, 2019 - 17 October, 2019
16 October, 2019 - 17 October, 2019
18 October, 2019 - 18 October, 2019
19 October, 2019 - 23 October, 2019
High Point, North Carolina, U.S.
23 October, 2019 - 25 October, 2019
Many industrial units including tanneries were closed after a 57% increase in electricity tariff was implemented in August. The federal government is planning to increase the power tariff by a further 30%. The decision may result in disaster; causing many more units to be closed that will worsen the unemployment in the country say industry bodies such as the Pakistan Tanners Association (PTA).
The Chairman of the PTA, Agha Saiddain, stated that the revenue minded government has focused all its abilities for collection of revenue and no attention is paid for industrial growth or to boost exports.
He said that present government has failed to introduce export-friendly policies and this may cause serious setback to the country as the value of the rupee has already slipped by more than 8.5% in the last three months.
Agha Saiddain said policymakers seem to think that industry can survive even after such an increase in electricity bills. He said that most of the industry is either running at a loss or operating with very thin margins.
The present increase in the electricity tariff will force industrialists to shut down their operations. Many people have stopped industrial activities and have started real-estate business. Some of the units have shifted their operations to other countries. The trend is disastrous and may cause even more serious unemployment in the country.
He urged the government to immediately withdraw the decision to increase the electricity tariff to prevent the nationwide strikes many trade bodies and chambers of the country have been warning of.
Source: The International Newscomments powered by Disqus