ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Thursday, hailing the reduction in the power tariff has urged the government to further cut the interest rate.
Addressing a press conference here, the FPPCI senior leadership including President Atif Akram Sheikh, Senior Vice President Saqib Fayyaz and FPCCI Patron-in-Chief SM Tanveer lauded Prime Minister Shehbaz Sharif’s announcement of a significant reduction in electricity tariffs, terming it an “Eid gift” for the public and industrialists.
The government has reduced electricity prices by PKR 7.41 per unit. This move is expected to alleviate the financial burden on industries and address their long-standing concerns regarding high energy costs.
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FPCCI President Sheikh emphasised that the tariff reduction, coupled with the recent decrease in the policy interest rate, will significantly resolve issues faced by industrialists. He credited the prime minister’s task force for its effective work in facilitating this decision.
Sheikh has expressed serious concern over the US’ decision to impose additional tariffs on Pakistani products, saying that the United States is Pakistan’s largest trade partner, and the new tariffs will negatively impact Pakistan’s exports.
The FPCCI president appealed to the US government to reconsider its decision, stating that Pakistan and the US have maintained trade and business relations for over 70 years. He warned that if the additional tariffs remain in place, Pakistan will face significant economic challenges.
Sheikh added that Pakistan’s government is introducing policies to boost exports. He noted that petroleum prices and bank markups are decreasing, which could help exporters, but the new US tariffs will make things difficult. He emphasised that keeping the additional tariffs would not be good for Pakistan.
FPCCI Senior Vice President Saqib Fayyaz urged industrialists to capitalise on this development by boosting exports. He mentioned that 2025 will be a year of economic growth for Pakistan. FPCCI Patron-in-Chief SM Tanveer highlighted the prime minister’s statement regarding the estimated PKR 600 billion losses due to theft within distribution companies (DISCOs). He said that the anticipated privatisation of DISCOs is expected to curb these losses.
Copyright Business Recorder, 2025
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