KARACHI, May 18: Trade and industry leaders on Saturday rejected the hike in electricity tariff and termed it an unjustified act by the caretaker government.

They said the Rs1.55 per unit increase in power tariff would not only make the country’s exports uncompetitive on the world markets but would also result in closure of more units across the country.

Criticising the move the leaders said that the caretaker government was not empowered to take such decisions which must be left for the incoming elected government.

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zubair Ahmed Malik said the National Electric and Power Regulatory Authority (Nepra) decision to jack up electricity tariff was unjustified and uncalled for as the formation of new elected government was around the corner following the general elections held on May 11.

He further said that trade and industry was already suffering due to frequent increases in utility tariffs particularly electricity.

Malik said that during the last five years no effort had been made to resolve power crisis.

While rejecting the raise in tariffs, the FPCCI chief warned the incoming government to refrain from raising gas and power tariffs and instead focus on addressing the woes of trade and industry due to massive load-shedding of electricity and gas.

Indo-Pak Chamber of Commerce and Industry President S M Muneer said that the industry could not sustain the fresh increase in power tariff and demanded of the government to immediately withdraw it.

He further said the hike in power tariff would jack up production cost and make the country’s exports uncompetitive which would result in further deterioration of the balance of trade.

Meanwhile, SITE Association of Trade and Industry Chairman Dr Arshad Vohra in a statement issued on Saturday said the power utility company had started massive load-shedding in industrial areas of Karachi on one pretext or the other.

He said the trade and industry made prompt payment of their utility bills as against huge unpaid and outstanding power dues of public sector organisations.

He said that the industrial sector was suffering millions of rupees production losses due to 12-hour unannounced load-shedding being carried out by the power utility company.

Due to power outages, he said, the industry also faces water shortage because without electricity entire pumping system of the city comes to a standstill.