Prime Minister Shehbaz Sharif on Friday announced a reduction of Rs4.4 per unit in electricity tariffs for the industrial sector, aiming to boost productivity, competitiveness and exports. Addressing leading exporters and business figures at a ceremony in Islamabad, the premier said the relief would ease cost pressures on industries, adding that if it were possible, he would have reduced tariffs by a further Rs10, but constraints limited the move.
He also announced a cut in wheeling charges to below Rs9 per unit, enabling industries to sell surplus power to neighbouring units. To further support exporters, the prime minister unveiled a reduction in the export refinance rate from 7.5 per cent to 4.5 per cent, in coordination with banks.
PM Shehbaz highlighted improved macroeconomic stability, noting single-digit inflation and a policy rate of 10.5 per cent, while stressing the need for sustainable, export-led growth and stronger support for SMEs.
