PM Shehbaz announces Rs4.40 per unit cut in industrial power tariff

Islamabad: Prime Minister Shehbaz Sharif announced a reduction of Rs4.40 per unit in electricity tariffs for industrial consumers, along with a Rs9 cut in wheeling charges, aimed at providing relief to the business community and boosting industrial growth.

The announcement was made during a ceremony in Islamabad honoring the country’s leading businessmen and exporters. The event was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers, prominent entrepreneurs, and top exporters.

Awards were presented to exporters who made significant contributions to Pakistan’s economy, with the Prime Minister personally felicitating them and welcoming their efforts.

PM Shehbaz emphasized that future economic policies would be formulated in close consultation with the business community, stressing that export-driven growth was the only sustainable path for Pakistan’s economy.

In a further bid to support exporters, he announced a reduction in the tax rate for exporters from 7.5% to 4.5%, while also stating that award-winning traders would be granted blue passports.

“The government does not intend to run businesses; the private sector must lead economic activity. Our role is to ensure a predictable and conducive environment for growth,” the Prime Minister said. He lauded exporters for their resilience and performance, noting that Pakistan’s exports had increased significantly in 2025 despite challenging conditions.

Addressing the nation’s economic situation, the Prime Minister recalled that Pakistan faced severe financial difficulties upon assuming office, with claims of a potential default and bankruptcy looming. He highlighted that through careful fiscal management and international support, including engagement with the International Monetary Fund, the country had avoided default. He noted that inflation was gradually declining, the policy rate had dropped from 22% to around 10.5%, and foreign exchange reserves had doubled.

PM Shehbaz also detailed the government’s reform measures, including the privatization of Pakistan International Airlines, closure of underperforming and corrupt entities such as the Pakistan Works Department and utility stores, and steps to curb petrol smuggling. He underlined that reducing direct taxes was a priority, while indirect taxes were being efficiently collected from consumers.

The Prime Minister highlighted the importance of key sectors such as textiles, leather, and digital industries in driving export-led growth. He praised the political and military cooperation that, in his view, was paving the way for national development and fostering investor confidence.

Concluding his remarks, PM Shehbaz urged collective national effort towards development, prioritizing the country’s dignity above political differences, and reaffirmed his government’s commitment to creating a business-friendly and growth-oriented environment.