Expensive electricity jammed wheel of Pak industry, says SM Tanveer

Former provincial minister SM Tanveer has said that expensive electricity in Pakistan has jammed the wheel of industries due to which about 35 percent industries of the country have been closed. 

Former minister SM Tanveer while talking to 24News on Wednesday said that the power consumption of the industries has reduced by 35 percent. 

He said all over Pakistan industries should get electricity at nine percent and industries can’t buy power in more than nine percent.

However, Special Investment Facilitation Council (SIFC) has decided to provide electricity to industries at nine percent, said SM Tanveer.

Implementation of SIFC decision was deferred for political government and the political government should implement the decision to supply power at nine percent to the industries on an emergency basis.

He said that industrialists are not asking for subsidy from the government.

SM Tanveer said that electricity theft money is being collected from industries and government should control electricity theft.

SM Tanveer said that the entire region is providing electricity to industries at 6 percent and government should reduce interest rate.

Inflation is coming down so interest rate should be reduced by 4 percent this month, said SM Tanveer.

At present Pakistan's economy is facing two major problems and if the government solves this problem and then the economy can run, SM Tanveer further said.

Reporter: Waqas Azeem