Karachi: Chairman BMG Zubair Motiwala and President SITE Association of Industry Riaz Uddin condemned unbearable increase in electric tariff as result of forced withdrawal of Rs 19.99/kWh effective March 1, 2023. Unfortunately, this abrupt tariff hike was also backed by NEPRA.

Jointly addressing gathering of affected SMEs situated in SITE area, they said that this act of government is detrimental for exporters as most of SMEs affected are indirect exporters and are closely weaved into entire supply chain of exporting industries.

President KCCI Tariq Yusuf, Chief coordinator SITE Salim Parekh, Vice Chairman BMG Jawed Bilwani, SVP SITE Abdul Kadir Bilwani, VC Hussain Mossani, former Chairman SITE Younus Bashir, Majyd Aziz and Asad Nisar, immediate past President Abdul Rasheed were also attended meeting. Zubair Motiwala further said that in such difficult times when nation is in dire need of foreign exchange, this anti-competition move will further erode competitiveness of local exporting industries, resulting in further shrinkage of exports which stood at 32 billion dollar in FY 2021-22 and are feared to go down to 27-28 billion dollar in current fiscal year. Entire gathering of more than 150 factories, employing more than 100,000 workers have unanimously demanded that RCET should be restored/continued in line with the earlier decision of Economic Coordination Committee (ECC) back in October 2022.

Published in The Daily National Courier, April, 11 2023

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