KARACHI: Business and industrial community have welcomed the reduction of power tariff for industrial consumers and expressed hope that this move would enhance exports, production capacity and reduce cost of manufacturing and help reduce inflation.
Prime Minister Shehbaz Sharif has announced a decrease of Rs 7.41 in electricity prices for residencies consumers and a decrease of Rs 7.41 in electricity tariff after receiving approval from the International Monetary Fund (IMF) reduce tariff differentials.
The leadership of Businessmen Group (BMG) and Karachi Chamber of Commerce and Industry (KCCI), while highly appreciating Prime Minister Shehbaz Sharif for his timely and impactful announcement of a substantial reduction in electricity tariffs by Rs7.59 per unit for industrial consumers and Rs7.41 per unit for domestic consumers, stated that it was undoubtedly a critical move to alleviate the financial pressure on both citizens and businesses that have long struggled with the burden of exorbitant energy costs.
Chairman BMG Zubair Motiwala, Vice Chairmen BMG Tahir Khaliq, Anjum Nisar, Mian Abrar Ahmed, Vice Chairman BMG & President KCCI Jawed Bilwani, Senior Vice President KCCI Zia ul Arfeen, and Vice President KCCI Faisal Khalil emphasized that this much-needed relief package comes at a time when it is most needed—offering significant reprieve to the public and industrial sectors which have faced escalating energy bills.
The BMG and KCCI leadership recognized the Prime Minister’s initiative as a “historic intervention,” a bold step towards providing much-needed relief to millions of households and thousands of businesses across the country.
They noted that this tariff reduction would have far-reaching positive effects, not only easing the financial burden on consumers but also revitalizing the industrial sector, fostering economic growth, enhancing exports, and ultimately contributing to a more competitive business environment in Pakistan.
While commending the splendid job done by the Taskforce on Energy Sector constituted by the Prime Minister, they particularly appreciated the efforts made by Federal Minister for Energy Sardar Awais Ahmed Khan Leghari and Special Assistant to the Prime Minister on Power Muhammad Ali that resulted in providing a huge relief to the entire nation.
Chairman BMG Zubair Motiwala remarked, “We wholeheartedly commend Prime Minister Shehbaz Sharif for this landmark decision. Reducing electricity tariffs is not just a welcome relief for millions of domestic consumers and businesses, but it is also an essential catalyst for spurring the growth of local industries.
Over the years, high energy costs have severely hindered industrial productivity, and this reduction promises to bring tangible benefits to manufacturing and exports, which are key drivers of Pakistan’s economy.“
Motiwala further highlighted the particular significance of this tariff reduction for Karachi’s industrial sector, which has long been weighed down by soaring electricity prices.
He praised the government for taking decisive action in addressing the challenges faced by the private sector, acknowledging their concerns, and responding with a practical and effective solution that will help rejuvenate industrial activity and fuel economic progress.
President KCCI Jawed Bilwani also welcomed the electricity tariff reduction, stressing the importance of continued government efforts to ensure that this relief is sustained over time.
“This announcement is a step in the right direction,” Bilwani stated. “However, it is essential for the government to continue working closely with the business community to monitor energy pricing and ensure long-term stability in electricity rates for both industries and households.”
Bilwani reiterated KCCI’s commitment to collaborating with the government to create a favorable business climate that drives sustainable economic growth and enhances Pakistan’s global competitiveness.
He expressed optimism that this initiative would be the first in a series of positive reforms aimed at strengthening the nation’s industrial base and stimulating economic activity across key sectors.
As the country grapples with rising inflation and economic challenges, this decision marks a turning point in the government’s efforts to support businesses and ease the financial burden on consumers.
The leadership of BMG and KCCI looks forward to continued dialogue with the government to ensure that such pro-business and pro-growth measures are sustained and expanded, further advancing Pakistan’s economic prosperity.
The President of the Korangi Association of Trade and Industry (KATI), Junaid Naqi, has welcomed Prime Minister Shehbaz Sharif’s decision to reduce electricity tariffs, calling it a positive step for industrial growth and cost reduction.
He highlighted that the government’s move to lower electricity rates for industrial consumers by Rs. 7.59 per unit, bringing the tariff down to Rs. 40.60 per unit from Rs. 58.50 per unit in June 2024, will significantly benefit the sector.
Similarly, household consumers will see a Rs. 7.41 per unit reduction, setting the new rate at Rs. 34.37 per unit, down from Rs. 48.70 per unit.
KARACHI: Business and industrial community have welcomed the reduction of power tariff for industrial consumers and expressed hope that this move would enhance exports, production capacity and reduce cost of manufacturing and help reduce inflation.
Prime Minister Shehbaz Sharif has announced a decrease of Rs 7.41 in electricity prices for residencies consumers and a decrease of Rs 7.41 in electricity tariff after receiving approval from the International Monetary Fund (IMF) reduce tariff differentials.
The leadership of Businessmen Group (BMG) and Karachi Chamber of Commerce and Industry (KCCI), while highly appreciating Prime Minister Shehbaz Sharif for his timely and impactful announcement of a substantial reduction in electricity tariffs by Rs7.59 per unit for industrial consumers and Rs7.41 per unit for domestic consumers, stated that it was undoubtedly a critical move to alleviate the financial pressure on both citizens and businesses that have long struggled with the burden of exorbitant energy costs.
Chairman BMG Zubair Motiwala, Vice Chairmen BMG Tahir Khaliq, Anjum Nisar, Mian Abrar Ahmed, Vice Chairman BMG & President KCCI Jawed Bilwani, Senior Vice President KCCI Zia ul Arfeen, and Vice President KCCI Faisal Khalil emphasized that this much-needed relief package comes at a time when it is most needed—offering significant reprieve to the public and industrial sectors which have faced escalating energy bills.
The BMG and KCCI leadership recognized the Prime Minister’s initiative as a “historic intervention,” a bold step towards providing much-needed relief to millions of households and thousands of businesses across the country.
They noted that this tariff reduction would have far-reaching positive effects, not only easing the financial burden on consumers but also revitalizing the industrial sector, fostering economic growth, enhancing exports, and ultimately contributing to a more competitive business environment in Pakistan.
While commending the splendid job done by the Taskforce on Energy Sector constituted by the Prime Minister, they particularly appreciated the efforts made by Federal Minister for Energy Sardar Awais Ahmed Khan Leghari and Special Assistant to the Prime Minister on Power Muhammad Ali that resulted in providing a huge relief to the entire nation.
Chairman BMG Zubair Motiwala remarked, “We wholeheartedly commend Prime Minister Shehbaz Sharif for this landmark decision. Reducing electricity tariffs is not just a welcome relief for millions of domestic consumers and businesses, but it is also an essential catalyst for spurring the growth of local industries.
Over the years, high energy costs have severely hindered industrial productivity, and this reduction promises to bring tangible benefits to manufacturing and exports, which are key drivers of Pakistan’s economy.“
Motiwala further highlighted the particular significance of this tariff reduction for Karachi’s industrial sector, which has long been weighed down by soaring electricity prices.
He praised the government for taking decisive action in addressing the challenges faced by the private sector, acknowledging their concerns, and responding with a practical and effective solution that will help rejuvenate industrial activity and fuel economic progress.
President KCCI Jawed Bilwani also welcomed the electricity tariff reduction, stressing the importance of continued government efforts to ensure that this relief is sustained over time.
“This announcement is a step in the right direction,” Bilwani stated. “However, it is essential for the government to continue working closely with the business community to monitor energy pricing and ensure long-term stability in electricity rates for both industries and households.”
Bilwani reiterated KCCI’s commitment to collaborating with the government to create a favorable business climate that drives sustainable economic growth and enhances Pakistan’s global competitiveness.
He expressed optimism that this initiative would be the first in a series of positive reforms aimed at strengthening the nation’s industrial base and stimulating economic activity across key sectors.
As the country grapples with rising inflation and economic challenges, this decision marks a turning point in the government’s efforts to support businesses and ease the financial burden on consumers.
The leadership of BMG and KCCI looks forward to continued dialogue with the government to ensure that such pro-business and pro-growth measures are sustained and expanded, further advancing Pakistan’s economic prosperity.
The President of the Korangi Association of Trade and Industry (KATI), Junaid Naqi, has welcomed Prime Minister Shehbaz Sharif’s decision to reduce electricity tariffs, calling it a positive step for industrial growth and cost reduction.
He highlighted that the government’s move to lower electricity rates for industrial consumers by Rs. 7.59 per unit, bringing the tariff down to Rs. 40.60 per unit from Rs. 58.50 per unit in June 2024, will significantly benefit the sector.
Similarly, household consumers will see a Rs. 7.41 per unit reduction, setting the new rate at Rs. 34.37 per unit, down from Rs. 48.70 per unit.
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