ISLAMABAD, JAN 15 /DNA/ – The President of the Islamabad Chamber of Commerce and Industry (ICCI), Nasir Qureshi, has praised the government’s trailblazing decision to implement a single-point electricity supply system for Special Economic Zones (SEZs) and industrial estates across Pakistan. This move is seen as a crucial step toward resolving the long-standing power supply issues that have impeded industrial growth and hindered smooth business operations in the country. By streamlining the electricity supply process, the government aims to foster a more conducive environment for industrial development and economic growth.
Under the new system, SEZ administrations will be responsible for managing the electricity supply, including handling new connections and billing processes. This shift will eliminate the middlemen and avoid delays caused by power distribution companies, which have often frustrated industrial consumers. As a result, businesses within SEZs will benefit from a faster, more efficient electricity supply, with fewer bureaucratic obstacles. The direct involvement of SEZ authorities in managing these operations is expected to improve overall service quality and reduce downtime for businesses.
The move also empowers SEZs with enhanced control over electricity operations, allowing them to respond more swiftly to the needs of businesses. With the elimination of the need to obtain additional licenses for internal power supply, the new model creates a more competitive environment within the zones. SEZs will now be able to manage their own electricity distribution more effectively, ensuring that the power supply meets the growing demands of industrial operations. This newfound autonomy is expected to encourage investment and innovation in these areas, benefiting the broader economy.
Furthermore, Nasir Qureshi also highlighted the federal cabinet’s approval of revised agreements with 14 Independent Power Producers (IPPs), which could lead to a reduction of Rs10-11 per unit in electricity prices. This is seen as a major achievement in addressing persistent energy challenges. By lowering electricity tariffs, the government aims to alleviate the financial burden on businesses, particularly those in energy-intensive industries. This cost reduction is expected to boost industrial production and improve the profitability of many sectors that rely heavily on electricity.
These revised agreements with IPPs also have the potential to reduce Pakistan’s circular debt, a longstanding issue that has placed significant strain on the country’s energy sector. By renegotiating terms with IPPs, the government hopes to stabilize the energy supply and ease the financial pressures that have led to inefficiencies in power generation and distribution. This step is part of a broader effort to create a more sustainable and reliable energy sector, which will benefit businesses and consumers alike.
In the long term, these reforms are expected to have a transformative impact on Pakistan’s industrial landscape. Uninterrupted and affordable electricity will support the growth of industries, create job opportunities, and increase the country’s export capacity.
Nasir Qureshi expressed optimism that these measures would pave the way for enhanced industrial development, driving economic progress and improving Pakistan’s competitiveness in the global market.
On their part, Senior Vice President Abdul Rehman Siddiqui and Vice President Nasir Mehmood Chaudhry have said that the combination of the single-point electricity supply system and the revised agreements with IPPs marks a turning point for Pakistan’s industrial sector. These reforms will not only improve the ease of doing business but also foster a more robust industrial base that can contribute to national prosperity.
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