Pakistan’s export sector is set to receive significant financial relief following the government”s announcement to slash electricity tariffs by Rs4.04 per unit and lower the Export Refinance Rate from 7.5% to 4.5%, according to a statement from the Sialkot Chamber of Commerce and Industry (SCCI).
In a communication attributed to SCCI President Syed Ahtesham Mazhar today, the chamber expressed its appreciation for the key measures announced by Prime Minister Mian Muhammad Shehbaz Sharif, which are aimed at supporting the nation”s industrial and export-focused businesses.
Mr. Mazhar highlighted that these financial adjustments are anticipated to substantially lower the cost of production for local industries. This, in turn, is expected to enhance the competitiveness of Pakistani products in fiercely contested international markets.
The reduction in the Export Refinance Rate was particularly noted as a measure that will provide much-needed liquidity to businesses by improving cash flow and ensuring access to more affordable financing for export-oriented operations.
The SCCI President also commented on the government’s plan to issue Blue Passports to the nation’s top exporters. He described the move as an initiative that will facilitate international travel for business leaders, helping to strengthen global commercial connections and formally recognise the contributions of leading exporters to the national economy.
According to Mr. Mazhar, the Sialkot business community views these actions as a reflection of the government’s commitment to fostering export-led economic growth. He conveyed that the community remains supportive of such policies and is hopeful for further industry-friendly measures to sustain economic stability.
He concluded by emphasising the vital role of Sialkot’s industries in the national economy, projecting that the new relief package will help increase overall exports, generate employment opportunities, and bolster the country’s foreign exchange reserves.
The SCCI affirmed its dedication to continue collaborating with the Government of Pakistan to advance trade, exports, and the country”s overall economic development.