Prime Minister Shehbaz Sharif has stressed the need to reduce electricity prices to support industrial growth and make Pakistani products more competitive in global markets. He made these remarks during a recent meeting of the Economic Advisory Council.
The Prime Minister said that high electricity costs increase the overall production expenses for businesses, making it harder for local industries to compete with international players.
He added that lowering electricity tariffs would help ease this burden, encourage growth, and promote exports. He appreciated the efforts of his economic team for successfully negotiating with the International Monetary Fund (IMF) to reduce energy tariffs.
The meeting also focused on several key areas for improving the economy, including the development of transport infrastructure, better vocational training, and promoting value-added exports instead of raw materials. These steps aim to create more skilled jobs and increase the value of Pakistani goods in international markets.
To strengthen trade ties and explore new opportunities, Prime Minister Shehbaz announced that a special delegation of Pakistani exporters will soon be sent to the United States. This visit will focus on trade discussions, building partnerships, and increasing export potential.
The Prime Minister emphasized that the government is committed to supporting local industries by creating a business-friendly environment. Lowering electricity costs, improving infrastructure, and developing skills are all part of the broader plan to boost economic activity.
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