FPCCI announces Rs200m financial assistance for flood victims

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has announced Rs200 million in financial assistance for the flood victims, ARY News reported on Wednesday.

The FPCCI supported the construction of Kalabagh Dam after witnessing the rain and flood disasters in the country. According to a declaration, the FPCCI said that monsoon rains and floods have always brought destruction to the country.

The chamber’s president Irfan Iqbal Sheikh that new dams will increase power generation, whereas, licences should be issued to more power distribution companies in Karachi to end the monopoly of the K-Electric.

The FPCCI president said that K-Electric management should be stopped from further increasing the price of electricity units as consumers were already purchasing expensive electricity up to Rs45 per unit while further hikes will not be accepted.