Lahore industrialists close factories over power costs

LAHORE: Industrialists and businessmen in Lahore announced plans to close their factories and “hand over the keys to the government” in protest against high electricity costs.

The decision follows mounting frustration over the rising cost of power, which they argue threatens the viability of their businesses.

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The industrialists convened an emergency meeting at the Lahore Chamber of Commerce and Industry. During this meeting, they voiced strong opposition to the capacity charges imposed by independent power producers (IPPs) and the overall cost of electricity.

The industrialists also called for a forensic audit of IPPs to address their concerns.

Spokespersons for various industries and companies talked about the severe impact of high electricity prices on their factories and overall operations in Lahore. They stated that the current costs have made business operations unsustainable, forcing them to take the drastic step of closing their factories.

The industrialists also called on the government to address the issue by revising agreements with IPPs to lower electricity costs.

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The announcement reflects a growing discontent among Lahore’s business community regarding the financial burden of expensive electricity. The industrialists argue that the current contracts with IPPs contribute significantly to the high electricity rates, which they believe are detrimental to their businesses.