KATI Welcomes Relief In Electricity For Export Sector

Korangi Association of Trade and Industry (KATI) Thursday welcomed relief in electricity prices for five zero-rated export industries as it wold reduce production costs, increase exports and foreign exchange, besides the government revenues would rise and unemployment come down

KARACHI, (UrduPoint / Pakistan Point News - 3rd Sep, 2020 ) :Korangi Association of Trade and Industry (KATI) Thursday welcomed relief in electricity prices for five zero-rated export industries as it wold reduce production costs, increase exports and foreign exchange, besides the government revenues would rise and unemployment come down.

In a statement here , KATI's Patron-in-Chief, S.M. Muneer, President Sheikh Umer Rehan, Senior Vice President Ikram Rajput and Vice President Syed Wajid Hussain said this move of the government would not only help the export industries recover from shocks of Coronavirus pandemic but compete in the global market.

S.M. Muneer said the government should also expedite the process of tax refunds to industrialists to encourage industrial activities in the country.

Sheikh Umer Rehan said that announcement of reduction of electricity rate for the zero-rating export sector would have a positive impact on the exports.

He said the business community had always been urging the government to promote business activities by reducing the tariffs of the utilities and giving more incentives.