Karachi: Pakistan Business Forum (PBF) has issued a stark warning about the state of Pakistan’s economy, stressing that the current high electricity tariffs are undermining industrial growth, threatening businesses, and jeopardizing nationwide employment. In a statement PBF President Karachi, Malik Khuda Baksh highlighted the urgent need for the government to reduce electricity tariffs to Rs26 per kWh. He described this move as not just a policy change, but as an essential step for revitalizing the economy and safeguarding millions of livelihoods.
“Pakistan’s industries and small to medium-sized businesses have borne the brunt of exorbitant electricity costs for far too long,” said Malik. “Each day of delay only deepens the financial burden on businesses already struggling to survive in a volatile economic climate.” He emphasized that with global markets shifting rapidly, Pakistani industries must remain competitive. A reduction in electricity tariffs, he argued, would lower operational costs, stimulate industrial growth, and foster a more resilient economy, benefiting both the business sector and the workforce.
Malik stressed the critical role of affordable electricity in maintaining a stable and efficient supply chain, which he called the backbone of the national economy. “High electricity tariffs have caused irreparable damage to our industrial base,” he added. “Many businesses are now forced to shut down due to unsustainable energy costs, leading to long-term economic losses.”
He warned that the longer the government delays implementing tariff reductions, the more severe the economic repercussions will be. “We must act now to prevent further deterioration and ensure a better future for every Pakistani,” he said.
Malik also pointed out that the government’s restructuring of Independent Power Producer (IPP) contracts has resulted in substantial savings, which he believes should be passed directly to consumers. He urged policymakers and all relevant stakeholders to prioritize this reform for the benefit of the nation’s economic health.
The PBF Karachi chief concluded by emphasizing that reducing electricity tariffs to Rs26 per kWh is more than just a policy decision—it is a lifeline for the country’s industries, a safeguard for jobs, and a catalyst for a stronger, more competitive Pakistan.
