ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), leadership Atif Ikram Sheikh and SM Tanvir said that the revival of the IPPs agreement has compensated the loss of Rs3500 billion from the government treasury, due to which a reduction in electricity prices for domestic and industrial consumers has been announced.
They felicitated the announcement of a reduction in electricity prices for industrial and domestic consumers by Prime Minister Muhammad Shehbaz Sharif and termed it significant for the country’s economy.
The year 2025 is the year of ‘take-off’ of the Pakistani economy, and intend to take the country’s exports to $ 100 billion in the coming years. Chairman FPCCI, United Business Group, SM Tanvir expressed these views while addressing the press conference along with President, FPCCI Atif Akram Sheikh, Senior Vice President, Zaki Ejaz, Vice President Quratul- Ain, Chairman FPCCI Capital office, Karim Aziz Malik and Coordinator Capital office Malik Sohail here at FPCCI Capital office Islamabad.
Meanwhile, the President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh lauded Prime Minister Shehbaz Sharif’s announcement of a significant reduction in electricity tariffs, terming it an “Eid gift” for the public and industrialists.
The government has reduced electricity prices by PKR 7.41 per unit. This move is expected to alleviate the financial burden on industries and address their long-standing concerns regarding high energy costs, he said.
President, FPCCI emphasized that the tariff reduction, coupled with the recent decrease in the policy interest rate, will significantly resolve issues faced by industrialists.
He credited the Prime Minister’s task force for its effective work in facilitating this decision.
FPCCI Senior Vice President Saqib Fayyaz urged industrialists to capitalize on this development by boosting exports. He mentioned that 2025 will be a year of economic growth for Pakistan.
FPCCI Patron-in-Chief SM Tanveer highlighted the Prime Minister’s statement regarding the estimated Rs 600 billion losses due to theft within distribution companies (DISCOs).
He said that the anticipated privatization of DISCOs is expected to curb these losses.
FPCCI officials expressed gratitude to the Prime Minister, Muhamad Shehbaz Sharif, Chief of Army Staff, Ayed Asim Muneer and the Special Investment Facilitation Council (SIFC) for their efforts.
The FPCCI is optimistic about the positive impact of these measures on Pakistan’s economy, projecting continued improvement in the coming days.
