PM Shehbaz Sharif unveils Rs200 billion relief package

Prime Minister Shehbaz Sharif has introduced a significant relief package exceeding Rs200 billion aimed at benefiting industrial electricity consumers. This package entails a notable 24% reduction in the current per unit rates for these consumers. As a result, more than Rs125 billion is expected to be returned to exporters in the form of income tax refunds next year. The Prime Minister's decision was prompted by a recommendation from the power sector regulator, which lowered the cross-subsidy provided to industries by Rs10.69 per unit. Simultaneously, an increase of Rs5.72 per unit was approved for residential consumers.

The relief package unveiled by Prime Minister Shehbaz Sharif is a strategic move to support industrial growth and competitiveness in the country. By reducing electricity costs for industrial consumers, the government aims to stimulate economic activity, boost exports, and create a more conducive environment for businesses to thrive. The decision to lower per unit rates for industrial electricity users while adjusting rates for residential consumers reflects a targeted approach to balance the needs of different sectors.

The announcement of this relief package marks a significant step towards enhancing the industrial sector's productivity and fostering economic development. With a focus on reducing operational costs for businesses, the government's initiative is poised to have a positive impact on the overall business landscape in the country. By prioritizing the needs of industrial electricity consumers, Prime Minister Shehbaz Sharif's administration demonstrates a commitment to supporting key sectors vital for national growth and prosperity.