Shehbaz unveils industrial power relief, cuts tariff by Rs4.04 per unit

Prime Minister Shehbaz Sharif announced a package of measures aimed at lowering costs for industry and boosting exports, including a reduction of Rs4.04 per unit in electricity tariffs for industrial consumers. He also said wheeling charges would be kept below Rs9 as part of efforts to improve competitiveness.

The prime minister made the announcement while addressing a ceremony in Islamabad held to honour leading business figures and exporters. He said future economic policy would be shaped in consultation with the business community and argued that export-led growth was essential for sustained recovery.

Sharif also said recipients of awards at the event would be granted blue passports. In addition, he announced a reduction in the export refinance scheme rate from 7.5% to 4.5%, describing it as immediate relief to accelerate export growth.

Emphasising the role of the private sector, the prime minister said the state should not run businesses and should instead ensure a stable and predictable environment for investment. He credited exporters for improving performance despite difficult conditions and pointed to a reported rise in exports during 2025.

Sharif said the government had faced a fragile economy when it came to power and described avoiding default as a major challenge. He said reforms were being introduced and large expenditure cuts made, while calling for lower taxes—especially direct taxes—and arguing that indirect taxes ultimately burden consumers.

He also claimed fuel smuggling had been brought largely under control and said corrective steps were taken across sectors. He highlighted textiles and leather as key industries and said initiatives were also being pursued to expand the digital economy, while stressing that national dignity should take precedence amid political competition.