M.A Rashid.
FAISALABAD: Government is providing 20% costly electricity while industries, particularly the textile sector, was not receiving any subsidy instead it is providing cross-subsidy to the government, claimed Doctor Khurram Tariq, President Faisalabad Chamber of Commerce & Industry (FCCI).
He said that the export sector must get electricity at regionally competitive tariff for its sustained presence in the global markets. He said that the government is presenting circular debt, wrong decisions of previous governments, payment to costly thermal power houses on capacity basis, power pilferage, high line losses and poor recoveries as justification to increase the electricity rates. He asked, if exporters could export circular debt or line losses? “If it is not possible, then why are industrialists being punished for the wrongdoings of the others”, he quipped. He categorically refuted the notion that the government was providing subsidies to the five major export sectors. He said that factual position is contrary to it, as industrialists are providing cross subsidy to the government for its wrong decisions in the past. He said that the government must seriously take the issue of costly electricity to save the export sector from total annihilation.
FAISALABAD( Bureau Report) Doctor Khurram Tariq President Faisalabad Chamber of Commerce & Industry (FCCI) departed for the Holy Lands to perform Umrah. During his stay in Makkah and Medina, he will visit holy sites and pray for the progress, prosperity and solidarity of Pakistan. He is expected to return back on Sunday after completing this religious journey.