Islamabad (Web Desk): Prime Minister Shehbaz Sharif has announced a decrease of Rs4.4 per unit in electricity tariff for the industrial sector, a step designed to make Pakistani products more competitive abroad and strengthen exports.
He was addressing a ceremony in Islamabad on Friday to honour the contributions of leading businessmen and exporters in the economy.
Sharing additional relief measures, PM Shehbaz said wheeling charges would be brought down to Rs9, enabling factories to provide electricity to nearby industrial units.
He also revealed that the markup under the Export Refinance Scheme would be lowered from 7.5 percent to 4.5 percent, offering financial ease to exporters.
As a mark of recognition, PM Shehbaz declared that the award-winning exporters and businessmen honored at the ceremony would receive blue passports valid for two years, calling them ambassadors representing Pakistan internationally.
He remarked that the country’s economy had now reached a point of stability, but emphasized that the focus must shift toward achieving durable and sustainable growth.
PM Shehbaz urged business leaders to put their resources into export-oriented ventures to help expand the economy and raise foreign exchange reserves.
Highlighting another priority, the prime minister stressed the need to direct investment toward Small and Medium Enterprises (SMEs), noting that their expansion would play a vital role in boosting exports.
He voiced strong confidence in the business community’s ability to help transform Pakistan’s economy in the years ahead and assured them that their suggestions would be taken seriously, adding that several of their recommendations had already been acted upon.
Pointing to ongoing structural changes, PM Shehbaz said that the reforms introduced by the government had led to savings amounting to billions of rupees.
Commerce Minister Jam Kamal Khan also addressed the gathering, stating that the government was committed to steering the country toward an export-focused economic model.
He said Pakistan had moved past economic turbulence and that exporters were once again placing their trust in government policies.
On the occasion, the prime minister distributed awards among top business leaders and exporters.
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