The President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has expressed his support for the relief measures announced by Pakistan’s Prime Minister Mian Muhammad Shehbaz Sharif, Energy Minister Sardar Awais Leghari, and Finance Minister Muhammad Aurangzeb. He described these measures as highly beneficial and timely for the country’s economy.
In a recent statement, he emphasized that the initiatives announced by the Prime Minister to support the industrial and export sectors will be crucial for economic recovery. These measures are expected to lower production costs, stimulate industrial activities, and boost exports.
The KATI President highlighted a reduction of PKR 4.04 per kilowatt-hour in electricity tariffs for industries, which is expected to significantly decrease production costs. This change will enable local industries to enhance their competitiveness. Additionally, increasing the financing rate under the Export Refinance Scheme (ERS) from the policy rate minus 3 percent to minus 6 percent offers substantial financial support to exporters, representing a major relief for the industrial sector.
Optimistic about the future, he noted that these measures will address the energy and financial challenges faced by industries. They will create a favorable environment for boosting exports, increasing economic activity, and promoting both local and foreign investment.
