The Pakistan Business Forum (PBF) today issued a stark warning regarding the state of the economy, highlighting that high electricity tariffs are stifling industrial growth and threatening employment across the nation.

According to a PBF statement, Forum’s Karachi President Malik Khuda Baksh emphasized the urgent need for the government to reduce electricity tariffs to Rs26 per kWh, describing it as an essential step to revitalize the economy and protect millions of livelihoods.

MR Malik expressed that Pakistani industries and small to medium-sized businesses have long endured the burden of steep electricity costs. He conveyed that delays only exacerbate financial challenges for businesses already struggling in a volatile economic environment. He argued that lowering electricity tariffs would reduce operational costs, stimulate industrial growth, and strengthen the economy, benefiting both businesses and the workforce.

Malik underscored the importance of affordable electricity in maintaining a stable supply chain, deemed crucial for the national economy. He mentioned that high tariffs have significantly harmed the industrial base, forcing many businesses to shut down due to unsustainable energy costs, leading to long-term economic losses.

He warned that any delay in implementing tariff reductions could have severe economic repercussions. Malik called for immediate action to prevent further deterioration and secure a better future for all Pakistanis.

Additionally, he highlighted that the government’s restructuring of Independent Power Producer contracts has led to substantial savings, which he believes should be transferred to consumers. He urged policymakers and stakeholders to prioritize this reform for the nation’s economic health.

The PBF Karachi Chief concluded by stressing that reducing electricity tariffs to Rs26 per kWh is not merely a policy decision but a lifeline for industries, a safeguard for jobs, and a catalyst for a stronger, competitive Pakistan.