- Advertisement -
RAWALPINDI, Jan 30 (APP): The Rawalpindi Chamber of Commerce and Industry (RCCI) has welcomed the recent announcements by the Prime Minister Muhammad Shehbaz Sharif to give relief to industries.
RCCI President Usman Shaukat called the policy announcement very positive and said that the measures are a big help towards increasing exports and bringing industry back on track. He said that tarrif reductions will bring down the cost of doing business a lot and will make Pakistani products more competitive in world markets.
The main relief measures announced by the prime minister are a reduction of Rs 4.04 per unit in power tariff for industries, a reduction of Rs 9.0 per unit in wheeling charges, and the financing rate under the Export Refinance Scheme reduced to policy rate minus 6 percent which was earlier calculated as policy rate minus 3 percent.
Usman Shaukat, in a statement issued here on Friday said that the announcements are very encouraging, and urged that tax rates should also be brought down to single digits to attract more investment which will lead economic growth faster and development becomes sustainable.