TOBA TEK SINGH: An increase in basic rates of electricity along with extending duration of peak time by two hours will increase the circular debt instead of curtailing it and hit the export sector, says Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Senior Vice Chairman Muhammad Amjad Saeed Khwaja.

In a statement issued at Faisalabad on Monday, he said instead of checking power pilferage, the government opted for an easy way to generate funds by enhancing power tariff. He said such steps would further complicate the distortions in the economic system. He said: `We cannot improve the economy without correcting these distortions and anomalies.

He also expressed concernthat the government was going to further enhance the gas tariff which would also have a negative impact on the industrial sector.

He said political governments have their own priorities but the caretaker dispensation must take steps to curb power pilferage.

He said if caretakers successfully handled this issue in addition to conducting fair and free election, it would give an immediate relief to the industrial sector as well as the general public.

He demanded that the government immediately withdraw the increase in electricity rates for the industrial sector and exempt it from the `menace` of peak hours as per the earlier decision of Supreme Court.

REGULATORY DUTY: Chairman of the Standing Committee on Wholesale Foodstuff of Faisalabad Chamber of Industry and Commerce Sheikh Muhammad Fazil haspraised the government for reducing the regulatory duty on Iranian dates from 74 per cent to 10pc.

Addressing a meeting of traders on Monday, he appealed to the government to direct the Faisalabad dry port management to clear the imported food items on a priority basis.

He said retailers do not have bill of landing or customs paid duty documents as they buy these goods from big importers, so they should not be forced to produce such documents. He said owing to difficulties faced by traders at Faisalabad dry port, importers prefer to get their goods cleared from Lahore or Karachi, so the authorities must remedy this situation.

FCCI Senior Vice President Dr Sajjad Arshad said excessive delay in the clearance of imported food items not only increased the chances of their spoilage, but the importers incurred heavy demurrage.