KARACHI: Pakistan’s business community has welcomed Prime Minister Shehbaz Sharif’s decision to reduce electricity tariffs, calling it a crucial step toward easing the burden on consumers and reviving industrial activity.
M. Abdul Aleem, Secretary General of the Overseas Investors Chamber of Commerce and Industry (OICCI), termed it a “positive move,” especially in light of stringent IMF conditions and limited fiscal flexibility. However, he emphasized the need for further policy measures to stimulate the large-scale manufacturing (LSM) sector.
Ehsan Malik, CEO of the Pakistan Business Council (PBC), also praised the initiative, noting that any reduction in power costs is beneficial. He added, however, that electricity rates in Pakistan remain higher than those in regional competitors.
Zubair Motiwala, Chairman of the Businessmen Group (BMG), and Jawed Bilwani, President of the Karachi Chamber of Commerce and Industry (KCCI), described the prime minister’s move as a “historic intervention” aimed at providing critical relief to both households and industries. They highlighted the importance of this tariff cut in revitalizing the industrial sector, particularly in Karachi, which has faced prolonged challenges due to high electricity prices.
Bilwani called for continuous collaboration between the government and business stakeholders to monitor and manage energy prices, expressing hope that this would mark the beginning of broader pro-industry reforms.
Junaid Naqi, head of the Korangi Association of Trade and Industry (KATI), said the decision would boost Pakistan’s global competitiveness. He urged the government to ensure long-term stability in electricity tariffs to support strategic industrial planning and attract investment.
Hamid A. Zahur, Chairman of the Pakistan Tanners Association (PTA), and Mian Zahid Hussain, President of the All Karachi Industrial Alliance, also echoed the call for further reductions in electricity and gas prices to match regional averages and reduce production costs, especially for export-oriented industries like textiles.
The business community hopes that this relief will be part of a larger strategy to strengthen the economy and encourage sustainable growth.
Story by Aamir Shafaat Khan
