KARACHI: President of Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman requested National Electric Power Regulatory Authority (NEPRA) Chairman Taseef Farooqui regarding a hearing held on April 3rd to receive quarterly adjustments on electricity bills in 3 months. President KATI requested Chairman NEPRA to review their decision and recovery quarterly adjustment in 6 to 8 months. In his letter, he said that KATI is the largest industrial zone of Pakistan where all small, medium and large industries and top exporters are present.
President KATI said that due to the severe economic crisis in the country, despite paying the State Bank of Pakistan 100% of the money for the issuance of letters of credit (LC), industrialists are suffering severe financial loss due to the closure of LCs. The shortfall has been compounded by fines on containers stuck at ports, a dollar shortage, high-interest rates and record inflation, causing industries to collapse, most industries are shutting down, and people to become unemployed in large numbers. He said that in such a case, receipt of quarterly adjustments by NEPRA in a short period of 3 months will increase the burden on the industrialists, especially the small industries, which they cannot afford.
President KATI requested that the quarterly adjustment be received in easy installments of 6 to 8 months so that the industry is not burdened. He further said that the zero-rated export industry should be facilitated on a priority basis as the subsidy available to them has also been removed.
Faraz-ur-Rehman hoped that Chairman NEPRA will ease the difficulties faced by the industry by providing facilities to the industries on their request.
