The Korangi Association of Trade and Industry (KATI) today endorsed the government’s recently announced relief package for industries and exporters, characterising the initiatives as a highly positive and timely step for the national economy.
In a statement, KATI President Muhammad Ikram Rajput said the measures declared by Prime Minister Mian Muhammad Shehbaz Sharif, along with the energy and finance ministers, will play a vital role in economic recovery by reducing production costs and promoting industrial activities.
Rajput highlighted that a reduction of PKR 4.04 per kilowatt-hour in electricity tariffs for the industrial sector is expected to significantly lower operational expenditures, thereby enabling local industries to gain a competitive edge in the global market.
He further identified the enhancement of the Export Refinance Scheme (ERS) as a “major facility” for exporters. The new policy, which adjusts the financing rate from the policy rate minus 3 per cent to minus 6 per cent, will provide businesses with cheaper and more effective financial support.
Expressing optimism, the KATI president said the reforms will help resolve crucial energy and financial challenges faced by the industrial sector, fostering a conducive environment for increased exports and attracting both local and foreign investment.
Muhammad Ikram Rajput described the government’s initiatives as effective and far-reaching for industrial development. He expressed hope that this process of facilitating industrialists will continue, ultimately leading to a more stable economy and establishing Pakistan as a strong export-oriented country.