Another power tariff hike on cards - Press Release issued by Atif Ikram Sheikh.

Islamabad -- November 21, 2022 (PPI-OT)

Following is the text of press release issued by Atif Ikram Sheikh

Quote

Former Vice President of FPCCI Atif Ikram Sheikh on Sunday said as per the directions of the IMF the government is set to increase the electricity tariff which will affect the people and the business community. The price of electricity, gas, petroleum products and food items are already at record levels which have made life difficult for the people and further increases in power tariffs will erode their buying power, he said.

Atif Ikram Sheikh who has also served as Chairman PVMA said that instead of constantly increasing the price of electricity, the government should focus on reducing electricity theft and wastage and improving recovery. The transmission and distribution system should be improved and agreements with IPPs should be revisited, he demanded.

He further said that the government has failed to balance the supply and demand of cotton in the market due to which the stock of raw cotton in the country is rapidly depleting. The scarcity of cotton will prove to be a major setback for the textile industry, which was showing encouraging signs.

At present, big companies are trying to import cotton but small mills which cannot import are trying...