FNCCI welcomes reduction in power tariff rates

KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has welcomed the decision of the Electricity Regulatory Commission (ERC) to reduce electricity tariff rates and electricity demand charges.

The Federation has stated that the reduction in electricity tariff will provide more relief to the industries and businesses in crisis due to the Corona Virus pandemic.

It may be noted that the FNCCI had been demanding not to increase the electricity demand fee.

Stating that the private sector was encouraged by the decision not to increase the demand fee, the FNCCI has thanked the Minister of Energy, Water Resources and Irrigation, officials of the ministry, Electricity Regulatory Commission and Electricity Authority.

“We are confident that this decision will help expand economic activity, albeit to a lesser extent,” the Federation said in a statement today, adding that “tariffs for industrial customers should be cheaper to increase electricity consumption and also help create a competitive market and reduce trade deficits.”