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SMEs on the verge of collapse

 


ISLAMABAD: Hundreds of small and medium-sized enterprises (SMEs) acting as indirect exporters are practically on the verge of collapse due to the highest energy tariff.

These SMEs are in a situation of extreme distress due to exorbitant electricity prices. If the government fails to expand regionally competitive electricity rates to 7.5 cents per unit and RLNG to $ 6.5 per MMBTU, they will surely be shut down, a senior Commerce Ministry official said. from Textile to The News.

We are getting reports that many small industrial units (SMEs) are being closed simply because of the high tariffs.

The official said if the government extended the competitive regional tariff to SMEs, exports with this decision alone would increase by $ 3 billion in one year.

Prime Minister Imran Khan trying to pillar in office to get the economy back on track wants to generate the maximum number of jobs in the country, but the delay in issuing competitive tariffs at the regional level will cause a considerable drop in exports.

A few days ago, the official said that Prime Minister Imran Khan telephoned the respective ministers of the relevant divisions and ministry to expedite the process to ensure as soon as possible the notification of a competitive regional tariff for the industry. export to boost exports, but the Energy Division and Ministry of Commerce had not yet submitted their summaries to the Economic Coordination Committee for notification of the competitive regional tariff for the industry. export.

The government extended the competitive regional electricity tariff of 7.5 cents per unit and the RLNG to 6.5 cents per unit for the export-oriented sector in the last fiscal year, but for the current final year. , the notification has not yet been published despite the announcement in the 2020-21 budget to maintain a competitive regional tariff.

The official also revealed that the Energy Division did not in fact suffer any loss in extending the competitive tariff to the export industry, as the actual cost of the service for industrial consumers according to the Central Power Purchase Agency (CPPA) ) and NEPRA is 7.5 cents per unit which is equal to Rs11.91 unit, but at the moment the export industry receives electricity bills based on Rs24 per unit against the agreed tariff at 7 , 5 cents per unit and this is done due to the lack of notification from the government regarding the tariff of 7.5 cents per unit for the current fiscal year.

Regarding the propaganda that there is no increase in exports despite granting a competitive regional tariff to the export sector, the official said pre-COVID-19 textile exports have increased 4.2% to $ 10.413 billion in 2019-20 during the July-March period. compared to exports of $ 9.989 billion in the same period of 2018-2019, but Bangladesh showed negative growth of 5.09% of exports in the same period, India recorded negative growth 8.5% of exports during the same period. However, Vietnam posted positive export growth of only 0.75 percent.

This shows that the competitive regional tariff has worked well. The official added that the drop in electricity tariffs around the world means that Pakistan’s industry and economy will still face a relatively higher production cost even if our electricity tariffs remain the same as today. ‘hui.

Likewise, due to the current COVID-19 crisis, electricity prices in India have fallen 16% from 8 cents to 6.7 cents, while the Vietnamese government has granted a 10% reduction. on the price of electricity from 8 cents to 7.2 cents.

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