Reduction in electricity tariff for small and medium enterprises (SMEs) and industries will have a positive impact on domestic markets and help overcome inflation that will spur economic growth, according to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Mian Anjum Nisar, who recently hailed the prime minister’s tariff reduction decision.
In a statement, the Pakistan Readymade Garment Manufacturing and Exporters Association (PRGMEA) also lauded the government’s decision.
“The prime minister’s announcement has been warmly welcomed by business, trade and industry,” Nisar was quoted as saying by Pakistani media reports.
He urged the industry to avail full benefits of the facility and play its part to raise production and volume of export.
“The electricity relief package would ultimately provide support in decreasing expenses and industries would be able to compete with regional contemporaries,” he added.