LAHORE: Pakistan Readymade Garment Manufacturing and Exporters Association (PRGMEA) regional chairman Adeeb Iqbal Sheikh has lauded the government’s decision to implement minimum off peak hour electricity tariff for small and medium industries to accelerate manufacturing, production and boost exports.
While talking to reporters, Sheikh said that the government has taken a landmark decision by extending electricity tariffs relief to the small and medium industry and the same will have a far reaching impact on the economic health of the country.
The lower electricity terrify will not only boost productivity but also make Pakistani products competitive in the international market enabling the country to vie with the regional countries including Pakistan, Bangladesh, Maldives, Sirlanka and others, he said adding that the very step of lowering the electricity terrify for the industrial consumption will put the economy on the path of growth and development.
He said that the decision of lowering the tariff of electricity for the industry has come at the very crucial Junker when Covid-19 has played havoc with the trade and industry only in Pakistan but all across the globe.
He explained Peak hours have been removed, small and medium industries using additional power will be provided electricity at a discount of 50pc till June 30, 2021 and for next three years, all industries will be given a discount of 25pc for using additional units as compared to their previous bills.
The economy will experience unprecedented growth if the government’s decision is implemented in letter and spirit, Sheikh pointed out, underscoring in the result of the decision unemployment will tend to decrease and industrialization take place and exports take a significant jump enabling the country to earn important foreign exchanges.
Now the industrialist will be able to buy electricity at cheaper rates of Rs8 per unit for the additional power they consume instead of Rs 16 per unit besides industries will be provided additional power at 25pc of the rate for the next three years which is matchless.
It seems that the government is serious in resolving the issue of trade and industry simultaneously heading to dismantle the adverse impact of COVID-19 on the economy.
He hoped that the government will also take up the other long standing issues including uncalled for show-cause notices from the government departments including State Bank of Pakistan, Federal Board of Revenue (FBR), Wasa and local governments.
The issues have long been promoting harassment and resentment among the traders and industrialists alike, Adeeb Iqbal Sheikh, concluded.
