Islamabad: In response to escalating energy costs that burden businesses and consumers alike, President Asif Ali Zardari has advocated for a cooperative solution involving key economic stakeholders. He emphasized the need for a concerted effort during discussions with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) at Aiwan-e-Sadr today.
According to Press Information Department, President Zardari proposed the formation of a committee in partnership with the FPCCI to address the financial strains caused by capacity charges to Independent Power Producers (IPPs). The meeting, which included businessmen and representatives from 40 regional business associations led by Dr. Gohar Ejaz, focused on developing a viable strategy that benefits the government, the populace, the business community, and IPPs alike.
The President acknowledged the significant challenges facing Pakistani businesses due to high input, energy, and fuel costs, often referred to as a “triple-whammy.” Dr. Gohar Ejaz, speaking on behalf of the FPCCI, stressed that the rising energy costs are heavily impacting the industrial, agricultural, and export sectors, necessitating urgent reforms to reduce energy prices.
In his address, Dr. Ejaz urged President Zardari to actively engage and support efforts to reform the energy sector. President Zardari reassured the delegation of his commitment to facilitating a solution that aligns with the economic welfare of all parties involved and pledged to engage with relevant authorities to advance this cause.