Prime Minister Muhammad Shehbaz Sharif announced major relief for industries and exporters on Friday. Electricity tariffs will be reduced by Rs 4.04 per unit, and wheeling charges lowered to under Rs 9 for industrial users. The export refinance scheme rate has been cut from 7.5% to 4.5%. Leading exporters of 2024–25 will receive blue passports for two years.
Speaking at the award ceremony, the Prime Minister said export-led growth and foreign investment are key to Pakistan’s economic revival. He urged businesses to increase investment and assured that their recommendations would be implemented.
Shehbaz Sharif praised exporters as the backbone of the economy. He recalled the challenges of June 2023 when inflation reached 32% and the policy rate peaked at 22%. Through collective efforts, inflation is now in single digits, the policy rate is 10.5%, and foreign exchange reserves have doubled, aided by support from friendly countries including China, Saudi Arabia, UAE, and Qatar.
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