KARACHI: Business leaders strongly criticised Prime Minister Shehbaz Sharif's announcement of relief for electricity consumption within 200 units.

They argue that business and industrial sectors find no significant relief in this package. Small traders, shopkeepers and industrialists require specific measures to boost industrial production and stimulate economic growth. Ignoring these sectors exacerbates country's economic challenges. Current economic and political climate necessitates profound and lasting measures to alleviate energy cost burden on people and businesses of Pakistan, business leaders said while talking to private TV channel. They stand ready to work with government to develop comprehensive solutions ensuring sustainable relief for all.Former President of Employers Federation of Pakistan Majyd Aziz stated that unbridled increases in infrastructure rates have devastated low-income and marginalised population since their tight budgets force them to juggle between roti, kapra, makaan and electricity bill. Much-needed announcement by premier may bring some momentary respite but would not alleviate widespread despair. Citizens, salaried or wage earners or even micro-business owners, are gradually being deprived of social safety nets and are terrified when they hear that more back-breaking announcements in utility rates and increases in inflation are in pipeline. Upsurge in unemployment rates and business closures is negatively impacting revenue of workers and employers. It is imperative that pro-poor policies and decisions are immediately implemented, otherwise, after-effects may debilitate social ecosystem of Pakistan leading to unrest and mayhem. Poor suffer high electricity rates along with mega load-shedding, while rich ostentatiously display wastage and usage of electricity. Least PM can do is to extend this relief from three months to twelve months, said Aziz. In response to recent relief package announced by PM, Farooq Shaikhani President of Hyderabad Chamber of Small Traders and Small Industry said this measure is insufficient and ineffective for providing long-term relief. Package is valid for only three months, far from being permanent solution.

This decision is taken under immense political pressure raised by public for sake of political face-saving. "We require sustained reductions in energy costs to genuinely benefit public and businesses. High cost of energy, driven by capacity charges, remains unaddressed," he said. He demanded that government reschedule these charges and undo agreements placing undue burdens on public. This package inadvertently benefits those who do not pay their electricity bills, while honest consumers see no significant advantage. PM claims that 94 percent of consumers will benefit, which is questionable, he said. Challenging government to provide detailed figures supporting this claim, he said, most households consume more than 200 units of electricity. He called for accurate and transparent data are essential. Shaikhani rejected this relief package as inadequate and short-sighted, while urging government to implement permanent reductions in energy prices, reschedule capacity charges and provide targeted relief for industrial and commercial users. Chairman and Founder of Pakistan Business Group, Farazur Rehman, has inveighed against PM's recent announcement of relief for electricity consumption within 200 units, dubbing initiative as "Political move" suggesting that it serves as distraction from underlying issues within country's electricity system and is designed to placate public with superficial benefits. He said instead of addressing fundamental problems and inefficiencies in current system, government is offering what he referred to as "Lollipop" to innocent people. Furthermore, Rehman accused government of attempting to obscure corruption within Independent Power Producers.He said real threat to Pakistan's economy is not International Monetary Fund, but IPPs and their beneficiaries.

He warned that in context of the severe economic crisis facing country, any such subsidies and lavish government expenditures are unacceptable and unsustainable.