Reduction in electricity tariff hailed

MULTAN: The business community of southern Punjab hailed the announcement of Prime Minister Nawaz Sharif regarding a reduction of Rs 3 per unit tariff of electricity for industrial users and described it a good decision.

Multan Chamber of Commerce and Industry (MCCI) President Fareed Mughis A Sheikh said the reduction in electricity tariff showed that the government wanted to provide relief to industrial sector.

Fareed said that the recent cut in power tariff would bring down the cost of industrial production and Pakistani products would get their due share in the international market. He said that the government should make more reduction in electricity prices as a large quantity of electricity was being generated through the thermal resources.

The MCCI President said that the decision taken by the government would have a positive impact on the national economy as well, adding that the government should introduce subsidised tariff for industry and agriculture on permanent basis. He said that by taking such steps, the production cost is reduced and this helps the nation to compete in international markets.

He suggested that slashing the cost of electricity rates and petroleum oil lubricants (POL) would help in bringing down the cost of almost all products, mainly consumer items, and also cast its positive impact on industrial growth.

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