FPCCI Hails PM’s Power Tariff Reduction as Eid Gift – Atif Ikram Sheikh President FPCCI
The ICCI leaders also appreciated the move, stating that it would enhance the competitiveness of local industries
Islamabad ( Web News )
The leading businessmen and industrialists welcomed the reduction in electricity tariff announced by Prime Minister Shehbaz Sharif on Thursday.
Addressing a press conference, FPCCI President Atif Ikram Sheikh said that the business community wasn’t expecting such a huge relief by the government.
“The country’s exports will be increased drastically through this relief package. Pakistan is moving in the right direction,” FPCCI president said.
Earlier, Prime Minister Shehbaz Sharif announced Rs7.41 per unit reduction on electricity tariff for domestic consumers and Rs7.59 for industrial consumers.
Addressing the press conference, S.M Tanveer, Patron-in-Chief of United Business Group, congratulated the business community on the massive relief package.
He thanked the prime minister and army chief for providing relief to the business community.
He said that there had been flawed agreements with IPPs (Independent Power Producers) in the past, and it had been proven that it was a mistake to sign those agreements.
He mentioned that today’s relief is beneficial for not only domestic consumers but also for the industry and commercial sectors.
S.M Tanveer added that the privatization of DISCOs would prevent Rs600 billion theft and the interest rate would drop to 9pc during next six months.
He expressed optimism that the government would continue to reduce electricity prices, stating that the business community had already won 80pc of the battle.
FPCCI Senior Vice President Saqib Fayyaz urged industrialists to capitalize on this development by boosting exports. He mentioned that 2025 will be a year of economical growth for Pakistan.
FPCCI Patron-in-Chief SM Tanveer highlighted the Prime Minister’s statement regarding the estimated PKR 600 billion losses due to theft within distribution companies (DISCOs). He said that the anticipated privatization of DISCOs is expected to curb these losses.
FPCCI officials expressed gratitude to the Prime Minister, the Chief of Army Staff, the task force, and the Special Investment Facilitation Council (SIFC) for their efforts. The FPCCI is optimistic about the positive impact of these measures on Pakistan’s economy, projecting continued improvement in the coming days.
The Islamabad Chamber of Commerce & Industry (ICCI) has welcomed the announcement by Prime Minister Shehbaz Sharif to reduce electricity prices, calling it a much-needed relief for both domestic and industrial consumers. ICCI President Nasir Mansoor Qureshi, along with Senior Vice President Abdul Rehman Siddiqui and Vice President Nasir Mehmood Chaudhry, lauded the government’s initiative to cut electricity tariffs by Rs7.41 per unit for household consumers and Rs7.59 per unit for industrial users. They emphasized that this step would not only reduce financial pressure on the public but also provide a significant boost to industries by lowering production costs.
The ICCI leadership further urged the government to continue introducing business-friendly policies that support economic expansion and sustainability. They reaffirmed ICCI’s commitment to working closely with policymakers to drive progress and development in the country.