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Pakistan Needs Business-Friendly Policies to Overcome Prevailing Crisis: ICCI President

by News Desk
July 24, 2024
in Business
ICCI President

ISLAMABAD: Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce and Industry has called for a forensic audit of Independent Power Producers (IPPs), decrying the annual payment of Rs.2000 billion in capacity charges as “daylight robbery.” This, he argues, deprives consumers of their hard-earned income and putting them severe hardships to meet their day to day affairs.
In a statement issued here at Islamabad on Wednesday, Bakhtawari lamented that 25% of industries have already shut down, resulting in widespread unemployment and the sale of machinery at drastically reduced prices.
He emphasized that the Rs.2 trillion being paid to 40 companies in capacity charges is severely hampering the national economy, even when no electricity is generated or supplied.
Bakhtawari stressed the need for cheaper electricity sources, as current high tariffs hinder export growth. He urged the government to review all agreements with IPPs and procure electricity from cost-effective sources for the national grid.
He urged that businessmen should be encouraged as role models in society as they are playing a vital role in the development of the country.

Tags: Ahsan Zafar BakhtawariBusiness-Friendly PoliciesElection 2024GazaICCI PresidentICCI President Ahsan Zafar BakhtawariIMRAN KHANISLAMABADIsraelNawaz SharifPAKISTANpalestinePPPPresident Islamabad Chamber of Commerce and IndustryPrevailing Crisispublic purveiw
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    Deepika Padukone and Ranveer Singh welcome baby girl

    Deepika Padukone and Ranveer Singh welcome baby girl

    'Kyunki Saas Bhi Kabhi Bahu Thi' actor Vikas Sethi dies

    ‘Kyunki Saas Bhi Kabhi Bahu Thi’ actor Vikas Sethi dies

    Anees Bazmee confirms Bhool Bhulaiyaa 3 release date

    Anees Bazmee confirms Bhool Bhulaiyaa 3 release date

    Popular Indian tv actress Shweta Tiwari has once again mesmerized her lovers along with her present day photoshoot, wherein she looks breathtakingly lovely in a saree.

    Shweta Tiwari Stuns Fans with Gorgeous Saree Look

    Hania Amir

    Hania Amir demands Legal Action Over Fake AI video

    Sumbal Iqbal

    Sumbal Iqbal’s Beach Pictures Stuns Everyone!

  • Tech
    TECNO

    TECNO Launches PHANTOM V Fold2 & Flip2 5G – Innovation Redefined

    Pakistan Ranks Among Top Countries in Global Cybersecurity

    Pakistan Ranks Among Top Countries in Global Cybersecurity Index 2024

    Apple AI

    Apple AI expected to star as new iPhones are unveiled

    WhatsApp

    WhatsApp soon allow to message any APP

    YAMAHA

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