Afghanistan buying electricity from all neighbours except Pakistan - Press Release issued by Pakistan Businessmen and Intellectuals Forum.

Karachi -- May 19, 2021 (PPI-OT)

Following is the text of press release issued by Pakistan Businessmen and Intellectuals Forum (PBIF)

Quote

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said costly electricity is resulting in low demand which is hitting masses and all the sectors of the economy.

Power producers are getting billions of rupees in the capacity payments as per the agreements resulting in frequent tariff hikes which is transforming in a crisis of payments, he said. Mian Zahid Hussain said that government can cope with the issue capacity payments by reducing the tariff to boost demand, promoting industrial sector which will consume electricity, provide jobs and increase revenue and export the surplus power.

Talking to the business community, the veteran business leader said that many power plants are under completion despite reduced power demand which will increase capacity payments to Rs1.4 billion by 2022-23. Many power plants are scheduled to come online by...