CNI criticises ETFC decision on rate hike

KATHMANDU: Confederation of Nepalese Industries (CNI) has condemned the decision of Electricity Tariff Fixation Commission (ETFC) to hike per unit rate of electricity by 19 per cent starting mid-July. Issuing a press statement on Monday, the confederation has said the decision will hamper Nepal’s ambition to graduate to the league of developing nations by 2022 and transform into prosperous middle-income country by 2030. Stating the rolling blackouts have long since affected social life and entire economy, CNI has said the ETFC’s decision will further reduce the competitiveness of local industries. The confederation has asked the government to roll back the decision to hike the rate in view of fragile economy that is just recovering from the devastating earthquakes and subsequent border blockade.