ISLAMABAD: Prime Minister Shehbaz Sharif has announced a reduction of RS4.4 in electricity tariff for the industries to enhance their competitiveness and bolster exports.
At a ceremony held in Islamabad today, a tribute was paid to leading businessmen and exporters for their pivotal role in strengthening the economy.
During the event, the Prime Minister announced several initiatives aimed at supporting the business community. He revealed that wheeling charges would be reduced to nine rupees, enabling industries to sell their excess power to neighboring industries more affordably.
He further stated that the markup rate for the export refinance scheme would drop from 7.5% to 4.5%, providing additional relief to exporters. In a symbolic gesture, he announced that blue passports valid for two years would be awarded to exporters and businessmen recognized with awards during the event, appointing them as ambassadors at large.
Highlighting progress, the Prime Minister emphasized that Pakistan’s economy has achieved stability and now requires a strong focus on sustainable growth. He called on the business community to invest in export-oriented projects to generate growth and increase foreign exchange reserves.
Shehbaz Sharif particularly stressed the importance of channeling investments into Small and Medium Enterprises (SMEs) to drive export growth. Expressing unwavering faith in the business community’s ability to transform the national economy within the coming years, he assured attendees of serious consideration for their recommendations and emphasized that several of their proposals have already been implemented.
Referring to recent reforms, he noted that these measures have successfully saved billions of rupees, underscoring the government’s commitment to financial prudence.
The Minister for Commerce, Jam Kamal Khan, also spoke at the event, emphasizing the promotion of an export-driven economy while noting that Pakistan has recovered from severe economic challenges, thereby restoring exporter confidence in government policies.
During the ceremony, the Prime Minister personally presented awards to leading business figures and exporters, recognizing their contributions to Pakistan’s progress.
