Expensive electricity is bankrupting the economy - Press Release issued by Federation of Pakistan Chambers of Commerce and Industry.

Karachi -- September 20, 2022 (PPI-OT)

Following is the text of press release issued by Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

Quote

FPCCI's Presidential candidate Atif Ikram Sheikh on Tuesday said expensive electricity is bankrupting the economy.

Costly electricity is affecting production and exports and it is necessary to make electricity affordable to boost the economy and improve the quality of life of the people, he said.

Atif Ikram Sheikh said that electricity should be made cheaper to increase production and reduce the cost of services.

In a statement issued here today, he said that there is a need to develop small power plants and promote renewable energy in Pakistan like developed countries to solve the energy problem.

The practice of building large grid stations has ended in developed countries and if the same is done in Pakistan, losses of billions of rupees can be reduced.

As of last year, 50 million people in Pakistan were without electricity, and the number has increased after the floods, he informed.

Pakistan depends on petroleum imports for electricity, which costs billions of dollars and also increases pollution, even now, sixty-four percent of the electricity in Pakistan is being generated from imported fuel.

Energy policy should be aligned with ground realities so that people get affordable electricity, he demanded.

Nepra is continuously increasing power...