Business community rejects new solar policy, demands industrial reforms
Business
SM Tanveer calls for a long-term industrial plan to revive economic growth
ISLAMABAD (Dunya News) – The business community has strongly opposed the government’s new solar policy, urging authorities to restore the previous framework.
Addressing a press conference in Islamabad, FPCCI president Atif Ikram Sheikh rejected the policy while criticising the government’s decision to purchase solar electricity at Rs10 per unit instead of Rs27, calling it unacceptable.
S.M Tanveer, Patron-in-Chief of United Business Group, questioned the government’s delay in negotiations with state-owned Independent Power Producers (IPPs), arguing that timely discussions could reduce electricity cost by over Rs4 per unit.
He also pointed out a lack of finalisation on arguments with bagasse-based IPPs.
Tanveer demanded that interest rates be brought down to single digits, revealing that Rs500 billion worth of industries had shut down, leading to loss of one million jobs.
He called for a long-term industrial plan to revive economic growth and ensure business sustainability.
