Prime Minister Shehbaz Sharif has announced a significant reduction in electricity tariffs for industries, slashing them by Rs10.69 per unit in a bid to bolster the country’s industrial sector and enhance exports.
According to a statement from the PM Office, the National Electric Power Regulatory Authority proposed this reduction, setting the new electricity rate for industries at Rs34.99 per unit.
This initiative aims to alleviate a burden of more than Rs200 billion on the industrial sector, making Pakistani industrial and agricultural products more competitive globally. It is expected to reduce production costs, thereby boosting exports and accelerating industrial growth while creating new job opportunities and stimulating economic activity.
PM Shehbaz Sharif has also instructed relevant authorities to engage with reputable global consultancy firms to secure investment agreements with friendly nations. He emphasized consulting these firms to optimize government infrastructure and governance effectiveness.
During a meeting with an international consultancy firm delegation led by former State Bank Governor Raza Baqir, the prime minister highlighted significant investment potential in minerals and energy sectors. He assured the private sector of full government support for economic revitalization.
Additionally, other headlines include plans for an incremental use tariff for industries and NEPRA’s introduction of substantial markups for bill installment payments, aiming to improve electricity supply and potentially save lives in Pakistan, as noted by UNICEF.
