Islamabad: The Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Businessmen Panel on Sunday strongly reacted to jump in electricity base tariff by Rs 1.39 per unit for the second time in one year, along with exorbitant hike of Rs10.49 per litre in petrol prices, saying the government has declared another minibudget by burdening the trade and industry with billions of rupees new taxes in the form of huge increase in electricity, gas and petroleum rates.

FPCCI’s Businessmen Panel Chairman Anjum Nisar observed that the government has raised the petroleum product price for the third consecutive time in one month period (16th Sep-16th Oct), lifting it by more than Rs20 per litter to Rs137.79 per litre, as the authorities hiked the oil prices by Rs4.50 on Sept 16, then by Rs5.50 on Oct 1 and now by Rs10.49 per litter on Oct 16, 2021.

“It is unfortunate that the authorities had reduced the petroleum rates just by Rs1.50 one and a half month back on Sept 1, 2021,” he added.

He said that the National Electric Power Regulatory Authority (NEPRA) had allowed an increase of Rs1.65 per unit in power tariff, under quarterly adjustments, which will empower the distribution companies to collect Rs173 billion from consumers in the next one year.

He said that the trade and industry were expecting some relief at the expiry of early adjustments of Rs1.62 per unit on Sept 30, 2021, however, the NEPRA announced the transfer of new adjustments equal to Rs1.65 per unit to the consumers with effect from Oct 1, 2021.