LAHORE: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Ikram Sheikh and Regional Chairperson and Vice President Zaki Aijaz have called on the government to restore the industrial tariff for the cold storage sector, which has recently been shifted to the commercial tariff.

They made these remarks while addressing the annual general meeting of the All Pakistan Cold Storage Association at the FPCCI Regional Office in Lahore.They highlighted that the FPCCI had raised concerns regarding independent power producers (IPPs), and as a result of the cancellation of IPP contracts, electricity prices have decreased. Prices are expected to drop by an additional Rs10-12 per unit by March. Due to the FPCCI’s efforts, the officials said, the interest rate has also been reduced from 22 per cent to 12 per cent and is anticipated to reach single digits soon. The FPCCI is actively pursuing further relief for the construction sector and promoting early cotton sowing.

They assured the Cold Storage Association of the FPCCI’s continued support in addressing the sector’s challenges. Chairperson of the All Pakistan Cold Storage Association Mian Rahman Aziz Chan noted that rising electricity tariffs and inflation have significantly increased the operational costs of cold storage facilities.

Chan further stated that Nepra had unilaterally reclassified the cold storage sector from the industrial tariff to the commercial tariff. He appealed to the government to reverse this decision and reinstate the industrial tariff. He urged the Punjab Revenue Authority to avoid unnecessary harassment, emphasising that cold storage operators are tax-compliant, part of the documented economy, and willing to cooperate.