Prime Minister Nawaz Sharif has announced that the price of electricity will be decreased in the country.
Addressing members of All Pakistan Textile Mills Association (APTMA) and exporter groups, Prime Minister Nawaz Sharif said that NEPRA had been directed to decrease the per unit price of electricity by Rs 2.19. The prime minister added that Rs 2.14 per unit decrease would also be applicable under the monthly fuel adjustment which would be reflected in the bills of consumers in coming months.
Earlier, in a meeting with APTMA and exporter groups, Prime Minister Sharif underscored the need for enhancing exports. He assured the business community for redressing their issues but, he said, the same could not be done in a single day as resources were required for it.
He assured the business community that the government was ready to help it in every possible way for increasing the exports besides subsidising some export commodities.
“But we cannot provide subsidy until and unless we do not get equal returns. Providing subsidies is no permanent cure for increasing exports and it sometimes causes heavy losses to the national kitty,” said Sharif.
Federal Finance Minister Ishaq Dar, Federal Commerce Minister Khurram Dastgir Khan and Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi attended the meeting.
While apprising the prime minister about their problems, traders cited the increasing production cost as the biggest hurdle in exports.
The community leaders stated that impositions of a number of surcharges on electricity prices was the biggest factor in ever increasing production cost thereby leaving the country’s industrial products non-competitive in the global market. They added that the continuous shortfall and resulting load shedding had made the matter worse.
The industrialist community was of the view that if their grievances were not addressed timely, more production houses would move to neighbouring Bangladesh and China who offer more favourable work conditions.
About the security situation in the economic hub, Karachi, the PM maintained that the ongoing operation against terrorists in the city had improved the situation bringing traders and industrialist back to the city. “We Know the terrorists’ might has decreased and they are attacking journalists as their last efforts to survive,” he said. The meeting was called to consult the trading community for measures to increase exports. The meeting will also consider various initiatives to improve quality and competitiveness of Pakistani exports and the issues exporters are facing including the energy crisis. The problems and demands of the industrial sector are also discussed.