Karachi, July 04, 2017 (PPI-OT): The President, Lasbela Chamber of Commerce and Industry (LCCI), Ismail Suttar has strongly opposed the government’s plan to pass the entire circular debt burden on to consumers. He sharply reacting over a report in which it was revealed that the government before general election 2018, is considering imposing a special surcharge on electricity bills and passing on to the consumers the impact of interest of banks to generate additional funds for paying off a chronic circular debt that is contributing to load shedding which has swelled to Rs500 billion, as a report said.
Ismail while terming the government’s decision as most cruel to pass the circular debt burden on to consumers as sheer injustice to the country people and vowed that the FPCCI will strongly oppose it on every forum. Ismail said that the LCCI will not let the government to deceive and oppress the people of Pakistan and the economy of the country with such decisions because it will further push back Pakistan into poverty.
He announced to join hands with the FPCCI that is holding biggest gathering of country’s businessmen on 6th of July in Lahore where prominent business leaders across the country will gather on the occasion of Eid-Milan Party. “We will record our protest on 6th July in Lahore against this unjust plan of the government and will decide further course of action to hold rallies and demos nationwide against this injustice”, added Ismail.
Ismail was of the view that the government’s plan to amend the National Electric Power Regulatory Authority (NEPRA) act to add on miscellaneous charges directly to the consumer without approval of the regulator is improper. “Government is destroying its own institutions, which is beyond the comprehension”. He said if any such decision is taken by the government, LCCI will definitely go up against it.
According to reports, the government has decided to acquire yet another loan of Rs41 billion from commercial banks to partially retire the circular debt. Electricity consumers will pay the principal as well as interest on the Rs41-billion borrowing in their monthly bills. “The present regime is out to extort money from the poor consumers as well as borrowing huge money from internal and external sources but no improvement is seen in power sector despite tall claims”, Ismail added.
For more information, contact:
Public Relations Officer,
Lasbela Chamber of Commerce and Industry (LCCI)
Ground Floor, Lieda Office Building, Hub Distt., Lasbela
Tel: +92-85-3303410, +92-85-3304461
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