Press Release

LCCI chief demands cheap electricity for all industries

The Lahore Chamber of Commerce & Industry has urged the government to bring down the electricity tariff as cheap energy is a must to strengthen the industrial base and to win the international market. In a statement, the LCCI President Irfan Iqbal Sheikh, while praising Prime Minister Imran Khan for reversing the decision to increase in power tariff for the export sector, said that all being part of the economy, cottage and other industries should also be given relief.

He said that increases in electricity prices or additional charges to the bills are no solution to the power sector problems. The government should address inefficiencies in the system. 

“These inefficiencies are actually an unjust tax on honest power consumers. The industrial sector as a whole pays its dues in-time and there is no line losses/theft in most of the industrial estates and industrial estates in Lahore are one example”, the LCCI President added.

Irfan Iqbal Sheikh said that power sector planners should take cue from the efficient distribution companies (Discos) where line losses are at the lowest. 

The LCCI President also added that Pakistan needs development of renewable energy resources as it would be prevailing in future. Government should encourage local and foreign investors to invest in this particular area and not only serve the country but also gain benefits at vast scale.

He said that being a developing country, Pakistan cannot afford to rely on costly and anti-environment fossil fuels. He said that country is spending huge foreign exchange on oil import.

Irfan Iqbal Sheikh said that country has vast scope for renewable energy and its promotion will definitely reduce oil import bill of the country besides reducing the cost of doing business and living cost of the common man. He said that solar penal and small wind turbines can easily be installed in residential colonies for power generation.

He said that fossil fuels are not renewable. They are becoming too expensive, anti-environment and will eventually dwindle while renewable energy resources, such as solar and wind, will never run out.