Shehbaz Sharif announces Rs 4.04 power relief for industries, lowers export finance costs to support economic growth.
Prime Minister Shehbaz Sharif has announced a reduction of Rs 4.04 in electricity prices for industries. He said this step has been taken to make Pakistani industries more competitive and to help increase the country’s exports.
The Prime Minister made this announcement while addressing a ceremony in Islamabad, where leading businessmen and exporters were honoured for their contribution to Pakistan’s economy.
While speaking at the event, the Prime Minister also announced several other relief measures for the business community. He said that wheeling charges have been reduced to nine rupees, which will allow industries to sell their extra electricity to nearby industries more easily.
Shehbaz Sharif further announced that the mark-up rate on the export refinance scheme is being reduced from 7.5 percent to 4.5 percent. He said this step will help exporters get cheaper loans and expand their businesses.
The Prime Minister also announced that exporters and businessmen who received awards at the ceremony will be given blue passports with a validity of two years. He said these award winners will act as ambassadors at large and represent Pakistan positively at international forums.
Shehbaz Sharif said that Pakistan’s economy has now become stable, but stressed that the country must move towards sustainable economic growth. He added that long-term planning is necessary to keep the economy strong.
He urged the business community to invest more in export-led projects, saying that exports are key to economic growth and earning foreign exchange for the country.
The Prime Minister also emphasized the need to divert more investment towards Small and Medium Enterprises (SMEs). He said supporting SMEs will help boost exports and create more job opportunities.
Shehbaz Sharif expressed full confidence in the abilities of Pakistan’s business community. He said that businessmen have the potential to transform the country’s economy in the coming years.
“Exports are key to economic growth and earning foreign exchange for the country.” — Prime Minister Shehbaz Sharif
He assured the business leaders that the government values their suggestions. He said that many proposals given by businessmen have already been implemented, while others are under consideration.
Talking about government reforms, the Prime Minister said these reforms have helped save billions of rupees and improved economic management.
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On the occasion, Minister for Commerce Jam Kamal Khan also addressed the gathering. He said the government is promoting an export-led economy and that Pakistan has come out of serious economic difficulties.
He added that exporters’ confidence in government policies has been restored and that steps are being taken to support trade and industry.
At the end of the ceremony, the Prime Minister distributed awards among top businessmen and exporters in recognition of their services to the national economy.
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