K-Electric has promised improved supply to Trade and Industry - Press Release issued by Federation of Pakistan Chambers of Commerce and Industry.

Karachi -- September 28, 2022 (PPI-OT)

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

Quote

Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised the business, trade and industrial community of Karachi that in a high-profile, detailed and candid discussion with CEO K-Electric at the Federation House, FPCCI has raised the longstanding issues with the electricity supply of the city in general and to the trade and industry in particular; including, load shedding, break-downs, unplanned shutdowns in the name of repair and maintenance, chronic mismanagement of T and D issues and overbilling.

Mr. Irfan Iqbal Sheikh said that factories never sleep; and, they work 24 / 7 / 365 and it is an established norm even in the third world countries to supply uninterrupted electricity to industrial areas. He explained that good will and credibility is everything in export markets; and, it becomes next to impossible to regain orders and access to export clients after missing the deadlines vis-AA -vis export orders.

FPCCI Chief has explained that the federal government must swing into action immediately to arrest the ever-depreciating and volatile rupee-dollar parity; else, industry would prefer to shutdown rather than paying up wards of PKR. 60 / kWh; when accounted for all billing elements, i.e. per unit base tariff, fuel adjustment charges (FCA), sales tax, income tax, fixed charges, etc. He forewarned the government that it cannot even enable the repeat of the export performance of FY22, if it fails to stabilize and strengthen the rupee to its real effective exchange range (REER) value.

Mr. Suleman Chawla, SVP FPCCI, expressed his profound concerns that despite being the industrial, commercial, financial and supply chain hub of a country of...