Karachi: Altaf Shakoor, Chairman of the Pasban Democratic Party, emphasized the urgent need for reduced fuel rates to aid the survival of industries and the economic growth of Karachi. He criticized the government’s current energy policies, which he believes are exacerbating the industrial and economic crisis in the city, leading to potential mass unemployment and industrial shutdowns.
According to Pasban Democratic Party, Shakoor highlighted several critical issues facing Karachi’s industrial sector, including high unemployment and the closure of many industrial units due to high energy costs. He accused the government of prioritizing negotiations with private Independent Power Producers (IPPs) over the well-being of the industrial sector, despite the adverse effects of continuously rising electricity rates. Shakoor also noted the government’s failure to fully utilize the electricity generated by IPPs, suggesting that this surplus should be provided to both domestic and industrial consumers at lower rates.
Furthermore, Shakoor pointed to broader economic policies that he believes are detrimental to Karachi’s industrial landscape, including the government’s reluctance to complete the Pak-Iran gas pipeline and the halt of importing cheaper crude oil from Russia, both influenced by international loan conditions and external pressures. He called for immediate action from industrial associations and the government to reverse the decline in Karachi’s industrial sector, warning that the city’s economic struggles could have severe repercussions for the entire country.