Dawood urges Exporters & Industrialists to avail the Industrial Support Package

Adviser to Prime Minister of Pakistan for Commerce and Investment has urged exporters and industrialists to capitalize on the government’s newly announced power relief package.

“It was a long standing demand of our industry that our energy tariff be made competitive in order to reduce their cost of doing business. This demand has now been met,” said Dawood in a tweet post on Wednesday.

The statement comes a day after Prime Minister Imran Khan on Tuesday announced Industrial Support Package (ISP) that offers additional consumption of electricity to small and medium industries at 50 percent less rates. The package became effective from Nov 1, 2020.

All the industries, big and small, would pay 25 percent less on consumption of additional electricity by them over the next three years, said the prime minister during a media briefing along with his economic team after a cabinet meeting that approved the package.

For instance, if an SME was buying at Rs16 per unit, would pay Rs8 per unit on consumption of additional electricity after November 1, 2020. This would continue till June 30, the prime minister added.

“Exporters, large & SMEs, please utilize the benefits of reduced energy costs and go full speed ahead to translate this into greater exports for the country. The MOC is always at your service in case you face any hurdles,” added Dawood.