LCCI castigates govt for electricity tariff increase

While severely criticising 39 per cent per unit increase in electricity tariff under the monthly fuel adjustment formula, the Lahore Chamber of Commerce and Industry Thursday urged the government to withdraw this hike and direct the National Electric Power Regulatory Authority (NEPRA) to freeze the tariff at least for one year for the sake of the economy. In a statement issued here, the LCCI President Irfan Qaiser Sheikh said that the government in collaboration with the private sector would have to evolve a mechanism to cap the electricity prices for a term or a period so that the industrial consumers could calculate the cost of their finished products.