The President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has expressed his approval of the relief measures proposed by Prime Minister Mian Muhammad Shehbaz Sharif, Federal Minister for Energy Sardar Awais Leghari, and Finance Minister Muhammad Aurangzeb. He deemed these steps as highly beneficial and timely for the national economy.
In his statement, Rajput emphasized that the Prime Minister’s recent announcements, aimed at providing relief to the industrial and export sectors, will substantially contribute to economic recovery. These measures are expected to reduce production costs, encourage industrial activity, and boost exports.
Rajput highlighted that the reduction of PKR 4.04 per kilowatt-hour in electricity tariffs for industries is a significant move that will greatly reduce production costs, giving local industries a competitive advantage. Moreover, increasing the financing rate under the Export Refinance Scheme (ERS) from the policy rate minus 3 percent to minus 6 percent is a substantial benefit for exporters, offering them cheaper financial support. He described this adjustment as a significant relief for the industrial sector.
Optimistically, he noted that these measures will address the energy and financial challenges facing industries, fostering an environment favorable for increased exports, economic activity, and both local and foreign investment.
