The leadership of the Businessmen Group (BMG) and the Karachi Chamber of Commerce and Industry (KCCI) on Thursday appreciated Prime Minister Shehbaz Sharif’s timely and impactful announcement of a substantial reduction in electricity tariffs, stressing it is necessary to alleviate the financial burdens on citizens and businesses.
In a joint statement, BMG Chairman Zubair Motiwala, its vice-chairmen and KCCI President Jawed Bilwani and its vice presidents emphasized that the much-needed relief package came when it was most needed to offset the struggles caused by escalating energy bills.
The statement recognizes the prime minister’s initiative as a “historic intervention” toward providing much-needed relief to millions of households and thousands of businesses across the country. It notes that the tariff reduction would have far-reaching positive effects, easing the financial burden on consumers and revitalizing the industrial sector, fostering economic growth, enhancing exports, and ultimately contributing to a more competitive business environment in Pakistan.
While commending the splendid job done by the Taskforce on Energy Sector constituted by the prime minister, the businessmen particularly appreciated the efforts of Energy Minister Sardar Awais Ahmed Khan Leghari and Special Assistant to the P.M. on Power Muhammad Ali in providing a huge relief to the entire nation.
“We wholeheartedly commend Prime Minister Shehbaz Sharif for this landmark decision,” BMG’s Motiwala remarked. “Reducing electricity tariffs is not just a welcome relief for millions of domestic consumers and businesses, but it is also an essential catalyst for spurring the growth of local industries. Over the years, high energy costs have severely hindered industrial productivity, and this reduction promises to bring tangible benefits to manufacturing and exports, which are key drivers of Pakistan’s economy,” he said.
Motiwala further highlighted the particular significance of this tariff reduction for Karachi’s industrial sector, praising the government for taking decisive action in addressing the challenges faced by the private sector, acknowledging their concerns, and responding with a practical and effective solution that will help rejuvenate industrial activity and fuel economic progress.
KCCI President Bilwani also welcomed the electricity tariff reduction, stressing the importance of continued government efforts to ensure that this relief is sustained over time. “This announcement is a step in the right direction,” he said. “However, it is essential for the government to continue working closely with the business community to monitor energy pricing and ensure long-term stability in electricity rates for both industries and households.”
Bilwani reiterated KCCI’s commitment to collaborating with the government to create a favorable business climate that drives sustainable economic growth and enhances Pakistan’s global competitiveness. He expressed optimism that this initiative would be the first in a series of positive reforms aimed at strengthening the nation’s industrial base and stimulating economic activity across key sectors.
As the country grapples with rising inflation and economic challenges, this decision marks a turning point in the government’s efforts to support businesses and ease the financial burden on consumers. The leadership of BMG and KCCI looks forward to continued dialogue with the government to ensure that such pro-business and pro-growth measures are sustained and expanded, further advancing Pakistan’s economic prosperity.