Islamabad: Prime Minister Shehbaz Sharif on Thursday announced a significant reduction of Rs44 per unit in electricity tariffs for industrial consumers, describing the move as a major step toward reviving Pakistan’s struggling industrial sector and boosting economic growth.
Addressing a ceremony, the prime minister said high energy costs had severely affected industrial productivity and exports, forcing many factories to scale back operations or shut down entirely. He said the government’s decision aimed to ease the financial burden on industries and restore their competitiveness in regional and global markets.
PM Shehbaz stated that lowering electricity rates would help increase production, generate employment opportunities, and strengthen exports. He added that industrial growth was essential for stabilising the economy and improving Pakistan’s balance of payments.
The prime minister said the tariff reduction was made possible due to difficult economic reforms and improved fiscal discipline. He acknowledged that the government had taken tough decisions over the past months to stabilise the economy, adding that the benefits of those measures were now beginning to materialise.
He reiterated the government’s commitment to supporting the business community and said further steps would be taken to ensure affordable energy supplies and a conducive environment for investment. According to officials, the relief package is expected to provide a much-needed boost to key export-oriented sectors.
PM Shehbaz stressed that economic recovery remained the government’s top priority and said industrial revival would play a central role in putting Pakistan back on the path to sustainable growth.
This story has been reported by PakTribune. All rights reserved.