KARACHI: The President, SITE Association of Industry Muhammad Kamran Arbi, while welcoming the decision of the federal government to allow power tariff @ 9 cents / KWh to industrial consumers, has demanded the Govt. to issue the Notification of the same immediately.

He said that power tariff reduction to 9 cents/kWh will not only help in restoration of industrial competitiveness and reigniting the engine of the economy, but would also go a long way in boosting the confidence of industrialists. Such a move would boost exports across all sectors and stimulate a large number of downstream industries and services, which will ultimately, result in creation of more jobs, increase in foreign exchange earnings, and overall economic growth and stability of the country.

Kamran Arbi has urged the need to provide a competitive & growth-led environment to industries and has termed it ‘imperative in the prevailing economic situation’. He opined a regionally competitive energy tariff is the need of the hour to arrest the declining morale of industrialists as well as decline in value-added exports.

SITE President has also commended the efforts made by Caretaker Federal Minister for Commerce & Industries & Production Dr. Gohar Ejaz and Caretaker Minister for Energy & Power/Petroleum Muhammad Ali in the matter of rationalization of power tariff.