LAHORE - Senior Political Assistant of Chief Minister Punjab and former Member of National Assembly, Pervez Malik has said that massive electricity loadshedding has already crippled the economic activities in the country and further increase in electricity tariff by the government would be proved last nail in the coffin of industry sector while common man would also buried alive. In a Statement issued here Wednesday, Pervez Malik said that government has agreed with the International Financial Institutions and other International Financial Institutions to raise power tariff without considering its very bad effects on economy, industry and common man. He said there is no logic to raise the power tariff at the time when people are facing more than 16 hours load shedding daily. He said despite taking steps to curtail the electricity shortage, government is planning to suck the blood of masses by raising the power tariff. He said that nation is already much annoyed and protesting on roads as government has put their interests on stake while following the orders of IMF and other IFIs and more increase in power tariff would put more fuel on fire. He said that rise in power tariff would further increase the industrial input cost which is already very high than the competitors like China, Indian and Bangladesh. He said that Pakistani merchandise are already suffering hard to compete in the international market and if government follows the directions of IMF and other IFIs, Pakistani products would be nowhere in the international market. The Chief Minister Senior Assistant for Political Affairs said that government has failed to achieve even the revised export target of $19.2 billion due to its illogical policies while foreign investment has also registered huge decline. Mohammed Pervez Malik said that energy is the major source of growth but due to lack of management and concentration, growth of economy has become sluggish. He said that energy prices are highly correlated to the economic growth and high power tariff always leads to raise the cost of production, increase in the prices of finished goods and make them uncompetitive in the international market. He said that at a time when the whole industry was suffering due to energy crisis and high cost of doing business, the raise in electricity prices would give a further blow to the economy. He urged upon the government to come out of the influence of International Financial Institutions, stop following their orders and make efforts to enhance the cheap electricity production. He said that government shouldnt even think to increase the power tariff as electricity prices are already touching the alarming levels.