The Korangi Association of Trade and Industry (KATI) President, Junaid Naqi, has urged the government to immediately reduce electricity tariffs to Rs26 per unit to ensure the survival of industries and stabilize the national economy, Express News reported.
Naqi stated that excessively high electricity rates are severely affecting industrial production, employment opportunities, and business sustainability. He warned that Pakistan’s industries are losing their competitive edge in global markets due to these rising costs.
He called on the government to take immediate measures to bring electricity costs to a realistic level. He also urged that the benefits from renegotiated agreements with Independent Power Producers (IPPs) be directly passed on to consumers.
Failure to reduce electricity prices promptly, he cautioned, would lead to industrial shutdowns, increased unemployment, and an economic crisis—challenges that the country cannot afford.
Rejecting the 2600% increase in security deposits by power distribution companies (DISCOs), Naqi labelled the move as an unjust financial burden on industrial consumers. He argued that industrial consumers already pay 99% of their bills, making such an excessive increase entirely unjustifiable.
He also criticised the National Electric Power Regulatory Authority (NEPRA) for reducing fuel adjustment charges by only Rs3 to Rs4 per unit in December and January, calling the cuts insufficient, unlawful, and unfair.
He accused NEPRA of depriving Karachi’s industries of their rightful relief without any formal decision, stating that such unauthorized deductions violate transparency and fair regulatory practices. He demanded an immediate reversal of these deductions to ensure that Karachi’s industries receive their due relief.
Additionally, he reiterated his call for electricity tariffs to be reduced to Rs26 per unit, the reversal of the 2600% increase in security deposits, and the full transfer of negative fuel adjustment benefits to consumers.
The KATI president urged the government and regulatory authorities to implement urgent reforms to protect the industrial sector.
He warned that Pakistan’s industries are already under severe pressure, and if electricity tariffs are not reduced, the country could face irreparable damage to exports, employment, and overall economic stability. He expressed hope that the government would take swift and decisive action to prevent further damage to the industrial sector.
