ISLAMABAD: Prime Minister (PM) Shehbaz Sharif has announced a reduction of Rs4.4 per unit in electricity tariffs for industries and a cut of Rs9 in wheeling charges to support businesses and exporters.
He made the announcement while addressing a ceremony in Islamabad held in honour of leading businessmen and exporters. Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers, entrepreneurs and exporters attended the event.
During the ceremony, the prime minister distributed awards to exporters for their contribution to the national economy. He personally presented awards to prominent business figures from across the country and welcomed them.
Addressing the gathering, PM Shehbaz said all future economic policies would be made in close consultation with the business community. He said there was no alternative to export-led growth and announced that award-winning traders would be given blue passports.
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The prime minister also announced a reduction in the tax rate for exporters from 7.5 per cent to 4.5 per cent to provide immediate relief and boost exports.
He said the government did not believe in running businesses and that the private sector must lead economic activity. The role of the state, he added, was to provide a stable and business-friendly environment. He invited proposals from the business community and said Pakistan must now move towards growth.
Praising exporters, PM Shehbaz said they worked tirelessly and brought pride to the country. He said exporters performed well despite challenges and recorded a noticeable increase in exports in 2025.
Referring to past challenges, the prime minister said there had been talk of Pakistan defaulting, but saving the country from bankruptcy was one of the government’s biggest tasks. He said the economy was in a very fragile state when the government took office and people were facing serious difficulties.
He said he met the IMF managing director in Paris in 2023, after which the IMF approved an economic programme for Pakistan. He added that the IMF chief had said it was difficult to offer a new structure at that time.
PM Shehbaz said inflation was gradually declining and the policy rate had come down from 22 per cent to around 10.5 per cent. He said Pakistan’s foreign exchange reserves had doubled due to better economic policies, helping the country avoid bankruptcy.
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He said friendly countries supported Pakistan during difficult times. Along with the Chief of Army Staff, Field Marshal Asim Munir, he met leaders of several countries to promote economic stability. He added that the positive results of tough decisions were now visible.
The prime minister said the nation, especially the poor, made sacrifices during the stabilisation phase and stressed the need to move forward together on the path of development.
He directed State Bank of Pakistan Governor Jameel Ahmed to listen to the concerns of business leaders and said economic policies would be finalised after proper consultation with traders and exporters.
On foreign affairs, PM Shehbaz said Pakistan had achieved success on diplomatic and defence fronts. Referring to “Marka-e-Haq”, he said Pakistan’s global standing had improved, and during his recent foreign visits, he saw a clear change in international attitudes. He said world leaders were now more willing to engage with Pakistan and efforts were under way to attract new investment.
