Mr. Saquib Fayyaz Magoon, Acting President FPCCI, has apprised that FPCCI has sought the Sindh Government’s support over the burning issue of the capacity charges of independent power producers (IPPs) as new industry is not being installed in the province and the exiting industry is also facing challenges to continue their production and exports. He added that the electricity tariff has become the foremost cause of concern for industrialists because it is unbearable.
It is pertinent to note that Jam Ikramullah Dharejo, Sindh’s Minister for Industries and Commerce, visited Federation House to listen to the concerns, complaints and recommendations of the business, industry and trade community – where Presidents of various chambers of the Sindh province were also present.
Mr Saquib Fayyaz Magoon, Acting President FPCCI, informed us that industrial plots in Karachi’s established industrial areas had reached PKR’s market tag. 300 – 350 million per acre, and no genuine industrialist is willing to pay that much in the current cost of doing business and ease of doing business environs in the country. He added that industrial plots should be made available to genuine industrialists for no more than PKR. 20 million per acre.
Mr. Magoon also pointed out that the Sindh Industrial Board lacks representation of various Sindh chambers. FPCCI advocates including the Presidents of various chambers in the board to uplift all sectors, regions, and segments. Additionally, the province has so much economic potential that it should have its own detailed industrial policy in consultation with the business community.
Mr. Aman Paracha, VP of FPCCI, highlighted that industrialists are facing law & order issues, which are now serious as various incidents of harassment, violence, theft, and kidnapping have been reported. No investor feels comfortable in this kind of situation, he added.
Mr Abdul Mohamin Khan, VP FPCCI, demanded that primary infrastructure be completed in industrial and economic zones in various cities of Sindh so that the business community can invite national and international investors to visit and explore opportunities to set up an industry, forge industrial collaborations, and form joint ventures.
Jam Ikramullah Dharejo, Sindh’s Minister for Industries and Commerce, announced that the Sindh government has decided to support FPCCI in its endeavors to renegotiate and restructuring contracts with IPPs in the interest of the economy and its people. He added that this is our official stance that IPPs should be engaged in resolving the issue.
Jam Ikramullah Dharejo maintained that industrializing Sindh is an integral part of his vision. The apex body will be taken onboard to align it with the ground realities. We will also give due representation to the various chambers in the industrial board for an inclusive approach to industrializing the province, he added.
In a major development, the Sindh Industries Minister told the business community that the government was ready to take up the issue of overbilling with NEPRA – and, for that matter, industrialists could approach him with the overbilled electricity bills.
