PM Shehbaz Announces Major Power Tariff Relief for Industries

ISLAMABAD (Web Desk) — Prime Minister Shehbaz Sharif on Thursday announced a reduction of Rs4.40 per unit in electricity tariffs for the industrial sector, along with a Rs9 cut in wheeling charges, in a bid to provide relief to businesses and boost exports.

The announcement was made while the prime minister addressed a ceremony in Islamabad held in honour of leading businessmen and exporters. Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers, senior government officials, prominent entrepreneurs and exporters attended the event.

During the ceremony, awards were distributed among exporters who made notable contributions to the national economy. Prime Minister Shehbaz personally presented awards to distinguished exporters and business leaders from across the country and formally welcomed them.

Addressing the gathering, the prime minister said all future economic policies would be formulated in close consultation with the business community, stressing that export-led growth was the only sustainable path forward for Pakistan. He also announced that traders who received awards would be granted blue passports.

He further revealed that the government was reducing the tax rate for exporters from 7.5% to 4.5% to provide immediate relief and accelerate export growth.

Prime Minister Shehbaz said the government did not believe in running businesses itself, emphasising that the private sector must lead economic activity while the state’s responsibility was to ensure a stable and business-friendly environment. He welcomed proposals from the business community and urged collective efforts to move Pakistan towards sustained growth.

“You exporters deserve the highest appreciation. Despite extremely challenging conditions, you have worked tirelessly and brought pride to the country,” he said, noting a significant increase in exports during 2025.

Recalling the economic challenges faced by the government upon assuming office, the prime minister said Pakistan was on the brink of default at the time. “Saving the country from bankruptcy was one of our biggest challenges,” he said, adding that the common man had borne the brunt of economic hardships.

He referred to his meetings with the International Monetary Fund (IMF) leadership in 2023, stating that despite difficulties, an IMF programme was approved for Pakistan. He said inflation was now gradually declining, while the policy rate had been reduced from 22% to around 10.5%. Pakistan’s foreign exchange reserves had doubled, reflecting improved economic management, he added.

The prime minister acknowledged the support of friendly countries during Pakistan’s difficult phase and said that, along with the Chief of Army Staff Field Marshal Asim Munir, he held meetings with global leaders to advance economic stabilisation. He said the positive outcomes of tough decisions were now becoming evident.

He stressed that the nation, especially the underprivileged, had made significant sacrifices during the stabilisation phase and called for unity to move forward on the path of development.

Prime Minister Shehbaz also directed State Bank of Pakistan Governor Jameel Ahmed to closely engage with business leaders and assured that economic policies would be finalised through structured consultations with traders and exporters.

On the diplomatic front, the prime minister said Pakistan had achieved notable successes in both defence and foreign relations. Referring to “Marka-e-Haq,” he said Pakistan’s global standing had improved significantly, adding that international leaders were now more receptive to Pakistan’s position and that efforts were underway to attract fresh foreign investment.