Decision to increase inflation by two percent: Mian Zahid Hussain

Karachi, January 22, 2021 (PPI-OT): Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said a fifteen percent hike in power tariff will burden masses by over 200 billion rupees.

The decision should be reversed as it will hit economic activities and erode the confidence of the investors, he said. Mian Zahid Hussain said that the government should not have increased power tariff to revive the power sector but tried to reduce losses, theft and improve recoveries.

Talking to the business community, the veteran business leader said that masses and economy cannot afford the recent hike in power tariff as it will increase inflation by two percent and hit agricultural and industrial production. The decision will budget masses by over two hundred billion rupees while they will have to brave additional burden of general sales tax and fuel adjustment etc.

Those poor who were consuming up to 50 units per months and paying bill amounting to Rs100 will now pay Rs197.50 while those consuming up to 100 units will pay Rs774 instead of Rs 579, he said. The consumers consuming from 101 unite to 200 units will pay 2012 up from 1622 and those using 300 units will face an increase in their bills by almost Rs600.

The masses which are facing unemployment and unprecedented hike in the price of food and other items will be pushed to the wall by the recent increase in power tariff he said, adding that business community was hoping a cut in the price of electricity due to negotiations with IPPs and record circular debt but their hopes have been dashed.

For more information, contact:
President,
Pakistan Businessmen and Intellectuals Forum (PBIF)
Tel: +92-343-2226888
Tel: +92-300-8233364
Email: ceo@kenlubes.net

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