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KARACHI, Jan 30 (APP):President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has welcomed the relief measures announced by Prime Minister of Pakistan Mian Muhammad Shehbaz Sharif, Federal Minister for Energy Sardar Awais Leghari, and Finance Minister Muhammad Aurangzeb for industries and exporters, terming them highly positive and timely for the national economy.
In a statement, he stated that the measures announced by the Prime Minister in his recent address to provide relief to the industrial and export sectors will not only play a vital role in economic recovery but will also lead to a reduction in production costs, promotion of industrial activities, and an increase in exports.
The KATI President said that a reduction of PKR 4.04 per kilowatt-hour in electricity tariffs for industries will significantly lower production costs, enabling local industries to gain a competitive edge. Similarly, increasing the financing rate under the Export Refinance Scheme (ERS) from policy rate minus 3 percent to minus 6 percent is a major facility for exporters, providing them with cheaper and more effective financial support. He termed this move a major relief for the industrial sector.
Expressing optimism, he said these measures will not only help resolve energy and financial challenges faced by industries but will also create a conducive environment for increased exports, enhanced economic activity, and the promotion of local and foreign investment.