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FNCCI seeks rollback of power tariff hike
Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has expressed its “deep concern” about the government’s decision to hike electricity tariff. It has demanded the government immediately roll back its decision.Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has expressed its “deep concern” about the government’s decision to hike electricity tariff. It has demanded the government immediately roll back its decision.
The Electricity Tariff Fixation Commission (ETFC) two weeks ago had hiked the rate by an average of 19 percent.
At a time when industries are marred by acute power shortage, the government’s move is “very impractical”, the FNCCI said in a statement.
As per the ETFC decision, the tariff for industries will rise by 98-127 percent for the period between 11:00pm and 5:00am from mid-January to mid-April. For rest of the year, the average tariff hike will be 20 percent.
“For a long time, the country has been reeling under load-shedding and its impact has been visible
on industrial output. Furthermore, the April earthquake and four-month Indian blockade jaded the domestic industries,” said the statement.
“In such a scenario, increasing electricity tariff would increase the industrial cost of production that would erode industrial competitiveness.”