KARACHI: Mian Anjum Nisar, President FPCCI, has praised the prime minister for his bold initiative to reduce electricity tariffs for the SMEs and industries. He said for a long, FPCCI was striving for a balanced electricity tariff for industries to compete with the regional trade.
The struggle is now fulfilled and the government realized the issue. The reduced electricity cost will also positively impact the local markets and will create a tendency to overcome inflation and lead to economic growth. Prime Minister Imran Khan had announced during a media briefing after a cabinet meeting that from November 1, additional electricity used by the SMEs up to June 30, 2021 would be sold at 50% of the cost.
The prime minister also said that even the large industries would pay reduced electricity costs at all times without any concept of off-peak hours. Mian Anjum Nisar also asked the business, trade, and industry sectors to avail full benefits of this facility and play their part to increase production and volume of export.
The government has already decreased the policy interest rates and established a network of economic zones. This is the time to put all energy and efforts into enhancement of the socio-economic development of the country.
Copyright Business Recorder, 2020
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