KARACHI:

Leading businessmen, while appreciating Prime Minister Shehbaz Sharif’s announcement of a substantial reduction of Rs7.59 per unit in electricity tariffs for industrial consumers and Rs7.41 per unit for domestic consumers, have stated that it is a critical move that will ease financial pressure on both businesses and citizens, who have long struggled with exorbitant tariffs.

In a joint statement, Businessmen Group Chairman Zubair Motiwala, Karachi Chamber of Commerce and Industry (KCCI) President Jawed Bilwani and other senior leaders emphasised that the relief package came at a time when it was needed the most.

They called the initiative a “historic intervention” and a bold step towards providing relief to millions of households and thousands of businesses across the country. “This tariff reduction would have far-reaching positive effects, which will not only ease the financial burden on consumers but also revitalise the industrial sector, fostering economic growth, enhancing exports, and contributing to a more competitive business environment,” they said.

“It is an essential catalyst for the growth of local industries. Over the years, high energy costs have hindered industrial productivity, and this reduction will bring tangible benefits to manufacturing and exports, which are the key drivers of economy,” Motiwala remarked.

KCCI President Bilwani stressed the need to ensure that the tariff relief was sustained over time. “This announcement is a step in the right direction. However, it is essential for the government to continue working closely with the business community to monitor energy pricing and ensure long-term tariff stability for both industries and households,” he said.

Echoing similar views, Federal B Area Association of Trade and Industry President Shaikh Muhammad Tehseen termed the reduction in industrial electricity tariff a business-friendly step.