KARACHI, Jan 30: Muhammad Ikram Rajput, President of the Korangi Association of Trade and Industry (KATI), has applauded the relief initiatives announced by Prime Minister of Pakistan Mian Muhammad Shehbaz Sharif, Federal Minister for Energy Sardar Awais Leghari, and Finance Minister Muhammad Aurangzeb. He described these measures for industries and exporters as highly positive and timely for the national economy.
In his statement, the KATI President highlighted that the relief measures announced by the Prime Minister in his recent address aim to support the industrial and export sectors. These steps are expected to play a crucial role in economic recovery, reduce production costs, promote industrial activities, and boost exports.
Rajput noted that reducing electricity tariffs by PKR 4.04 per kilowatt-hour for industries will significantly lower production costs, giving local industries a competitive advantage. Moreover, increasing the financing rate under the Export Refinance Scheme (ERS) from policy rate minus 3 percent to minus 6 percent offers major financial relief for exporters. These measures provide effective and affordable financial support, which marks a significant relief for the industrial sector.
Expressing optimism, he emphasized that these initiatives will help address the energy and financial challenges faced by industries. They will also foster a conducive environment for higher exports, enhanced economic activity, and the promotion of both local and foreign investment.
