KATI Urges Permanent Implementation of Winter Relief Package for Industries.

KARACHI: Korangi Association of Trade and Industry (KATI) President Junaid Naqi has lauded the Prime Minister’s announcement of a winter relief package for industries, urging that it be made a permanent initiative and that PKR 33 billion in pending incremental subsidy from the COVID-19 period be released without delay.

According to North Karachi Association of Trade and Industry, Naqi expressed concern over the high electricity tariffs impacting industrial production costs in Pakistan, rendering local products less competitive in the global market. “Electricity costs for industries in Pakistan remain the highest in the region, which restricts our ability to compete internationally,” Naqi remarked.

He highlighted that Karachi’s industries had previously been deprived of their rightful PKR 33 billion in incremental subsidies due to ongoing disputes between the government and K-Electric. This financial burden, he stressed, has been shouldered directly by Karachi’s industries, impacting their operations and profitability.

As Karachi contributes 68% of Pakistan’s total revenue and serves as the nation’s primary industrial hub, Naqi cautioned that excluding the city’s industries from the winter package would have adverse economic repercussions. “The loss to Karachi’s industries ultimately affects Pakistan’s broader economic health,” he said, adding that fears persist over potential exclusion from the winter package in a similar manner to the incremental subsidy.

Calling for urgent intervention, Naqi appealed to Prime Minister Shehbaz Sharif and Federal Minister for Energy Ovais Leghari to ensure Karachi’s inclusion in the winter package. He also pressed for an immediate resolution of the K-Electric dispute to secure the long-overdue PKR 33 billion subsidy for Karachi’s industries, enabling them to reduce costs and enhance competitiveness on an international scale.

The post KATI Urges Permanent Implementation of Winter Relief Package for Industries. appeared first on Pakistan Business News.