ISLAMABAD, JULY20: Alliance of Recognized Chambers of South Punjab (ARCSP) has urged the government to bring the markup rate at 12 percent and reevaluation of Independent Power Producers (IPPs) for fixing capacity charges keeping in view the actual value of the assets.
Addressing a crowded news conference at Multan Chamber of Commerce and Industry (MCCI) here Saturday, President MCCI, Main Rashid Iqbal stated that the mark up rate was 20.5 percent and the inflation rate was 11 percent in the country whereas it was fixed by inflation rate plus one percent across the world. He appealed to the govt to reduce it to 12 percent and the tariff of the electricity as it had gone beyond the affordability of everyone because up to Rs 70 per unit is too high to pay.
Flanked by presidents of BCCI, Khanewal, Jhang, Vehari, DG Khan, RY Khan Chambers and Chairman APBUMA, Syed Asim Shah, PCGA Vice Chairman, Wasim Hanif, President Small Traders and small industries, Sheikh Faisal, former presidents Khawaja Muhammad Yousuf, Main Fazal Elahi and others, the MCCI President called upon the government to bring the rate to nine cents and reverse the SRO 350. About the IPPs, he disclosed that these were installed at inflated rates by over invoicing of machinery and plants prices, rates of plots etc adding that re-evaluation would help minimize the capacity charges. It will be very difficult for the industry to sustain under the hard circumstances the industry was going through, Mian Rashid Iqbal said and appealed to the government to introduce business friendly policies for the industrialists.
Replying to a question, the MCCI President called upon the business tycoons owning IPPS to help the government bring down capacity charges following the the known businessman SM Tanvir who offered reduction in tariff rates of IPPS owned by him.He suggested lessening the numbers of organizations working for one motive adding that instated of seven organizations of food and drug administration only one department could serve the purpose. Six environmental agencies are working in one province, Mian Rashid said and opined that the Environmental Protection Agency (EPA) should be shifted to the federal govt from the province to reduce the burden of half a dozen environment related agencies. He demanded govt to lessen the perks and privileges of serving and retired govt employees adjusting in accordance with economy of the country. Pakistan is a poor country which cannot afford to pay high perks and privileges to govt servants and retirees, he remarked. MCCI’s Senior Vice-President, Nadeem Ahmed Sheikh, Vice President Asim Sheikh, Khawaja Muhammad Fazal, Syed Iftikhar Shah and others were also present on the occasion.
