Karachi: Johar Kandahari, President of the Korangi Association of Trade and Industry (KATI), has lauded the Prime Minister Shahbaz Sharif's recent decision to offer a three-month electricity rate discount to domestic consumers using up to 200 units. While appreciative of the relief provided to consumers, Kandahari urges the government to extend similar concessions to the industrial sector, which he claims is on the brink of collapse due to high energy costs.

According to Korangi Association of Trade and Industry, Kandahari emphasized the need for the government to lower electricity rates to 9 cents per kilowatt and reduce interest rates to 12% to aid in economic growth, exports, investments, and employment. He highlighted the adverse impact of recent hikes in electricity and gas charges on industries, forcing many to cease operations. The association's president also called for the government to source power from cheaper options to alleviate capacity charge burdens on the public and bolster the national economy. Kandahari stressed the importance of consulting with stakeholders to foster a competitive business environment on a global scale.