Karachi: In a significant development concerning the industrial sector in Sindh, Mr. Saquib Fayyaz Magoon, Acting President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has raised concerns with the Sindh government regarding the capacity charges levied by independent power producers (IPPs). These charges are reportedly hindering new industrial installations and affecting the existing industries' ability to continue production and exports within the province.

According to Federation of Pakistan Chambers of Commerce and Industry, Mr. Magoon detailed the economic strains on industrialists due to the high electricity tariffs during a meeting with Jam Ikramullah Dharejo, Sindh’s Minister for Industries and Commerce, at Federation House. This gathering also included presidents from various chambers across Sindh, discussing the challenges and potential solutions for the local business and trade sectors.

During these discussions, Mr. Magoon also highlighted the inflated costs of industrial plots in Karachi, the lack of representation for Sindh’s chambers in the Sindh Industrial Board, and the pressing law and order issues that jeopardize investor confidence and safety. He advocated for more inclusive governance structures to foster regional industrial growth and proposed the establishment of a comprehensive industrial policy for Sindh devised in collaboration with the business community.

Further, Mr. Aman Paracha and Mr. Abdul Mohamin Khan, Vice Presidents of FPCCI, echoed the need for improved infrastructure and security measures to attract national and international investment into Sindh's industrial zones.

Minister Dharejo responded by affirming the Sindh government's commitment to support FPCCI in renegotiating and restructuring IPP contracts to alleviate economic pressures and enhance industrial viability in the province. He assured that the government would address the grievances related to overbilling with the National Electric Power Regulatory Authority (NEPRA) and ensure fair and representative inclusion of local chambers in the decision-making processes.