K-Electric Asks for an Extra Rs.5 billion from the Industrial Sector – Research Snipers

K-Electric Asks for an Extra Rs.5 billion from the Industrial Sector

K-Electric is demanding Rs.5 billion from the industrial sector. Prominent damage in the country’s economy can be seen now due to coronavirus, says Mian Zahid Hussain (PBIF) President Pakistan Businessmen and Intellectuals Forum.

According to his statement, the K-Electric is asking the Industrial sector under the Industrial Support Package Adjustment for an extra Rs.5 billion, which will result in bankrupting the local industries.

Also read: BAIC D20 Hatchback Seen in Pakistan

Due to the effect of the virus, the industries are already in great pressure and now K-Electric is also pressurizing them by making a demand for electricity which has been consumed from July 2019 to December 2019 also which is illegal.

Mian Zahid Hussain said the export sector has been hit due to the reduced demand by the global recession and so this the unnecessary electricity charges issue needs to be settled for the interest of the economy without any delays.

He further added that if the industrial sector shuts down, it will cause a heavy loss and a massive increase in unemployment.

On the other hand, to deal with the effects of the coronavirus the government has reduced the prices which are increasing in the domestic markets by removing taxes from various kinds of diagnostic support and health safety items.

More read: Government Removes Import Duties and Taxes on Medical Items

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