In a bid to avert potential industrial closures, the government has introduced a special package to alleviate electricity costs for industries in KP
In the aftermath of recent electricity price hikes following IMF agreements, more than 6,000 marble factories in Khyber Pakhtunkhwa (KP) find themselves on the brink of closure.
President of the Marble Mines Industry Development Association, Sajjad Khan, disclosed that the lamented escalation in electricity costs has intensified the challenges confronting the marble industry within the province. This dire situation has resulted in the shuttering of a significant number of factories.
Khan revealed that despite the 18th Constitutional Amendment, which mandates that a province producing surplus electricity must first meet its own requirements before supplying other provinces, KP struggles to adequately provide its own industries with power despite its electricity surplus.
He further highlighted that KP’s hydroelectric power generation capacity of around 6,000 megawatts greatly overshadows the province’s actual demand of 2,700 megawatts. Despite this surplus, the province grapples to deliver a mere 1,500 megawatts to support its industries.
In a bid to avert potential industrial closures, the government has introduced a special package to alleviate electricity costs for industries in KP, mirroring a similar initiative in Punjab. Khan appealed to the government to extend this relief to the marble sector, emphasizing that, as per the constitution, the primary right to preferential electricity rates should be granted to the province’s citizens and industries.
Khan also underscored that the marble sector bears the brunt of a nationwide construction industry slowdown. As long as construction remains sluggish, he noted, the marble market will struggle to find buyers. The prospect of raising marble prices by factory owners is hampered by the ongoing halt in construction activities.
Employing hundreds of thousands of individuals across various districts such as Mardan, Risalpur, Buner, Swat, Jehangira, Peshawar, Abbottabad, Mansehra, and others, the marble industry in KP contributes significantly to the economy through tax revenues. Despite this, it lacks substantial government relief, a fact that remains unchanged despite its substantial economic contributions.
Source: profit.pakistantoday.com.pk
