LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has called for an urgent review of actions taken by the Punjab Electricity Regulatory Authority (PERA) against traders, citing unnecessary harassment and the alleged misuse of power. LCCI President Faheem Ur Rehman Saigol, addressing a press conference, criticized the impact of electricity load-shedding and early market closures, emphasizing the need to protect business activities.
According to Lahore Chamber of Commerce and Industry, Saigol stated that the losses incurred by traders under the pretext of electricity conservation are unacceptable. He argued that decisions should align with ground realities rather than being made arbitrarily, noting that the business community has not advocated for electricity generation through oil. Despite solar energy production reaching 8,000 megawatts, administrative challenges remain, he added. Saigol described the PERA-imposed lockdowns as flawed and demanded an immediate review of the procedures.
He further highlighted incidents of verbal abuse, scuffles, and even firing during market closures, describing these as unfortunate. Saigol warned of capital flight from the country and stressed the importance of improving the business environment to retain investment. He urged Pakistan to adopt successful business models from Gulf countries, such as Dubai, and called for facilitation of the real estate and investment sectors to keep capital within the country. Rising oil prices are contributing to inflation, and business closures will exacerbate poverty, he cautioned, emphasizing that the self-respect of the business community must be upheld.
Senior Vice President Tanveer Ahmed Sheikh reported severe load-shedding in industries, hindering the fulfillment of export orders. He noted the dependency of the electric vehicle policy on reliable electricity. Vice President Khurram Lodhi added that first information reports (FIRs) should not be filed against traders, highlighting the need to end the harassment of the business community.