PM's Industry Package To Boost Economic Activities: Malik

LAHORE, (UrduPoint / Pakistan Point News - 20th Jun, 2021 ) :Prime Minister Imran Khan's prudent decision of flat tariff extension package for the industry till June next would accelerate economic activities and boost industrial production, besides bolstering exports.

South Asian Association for Regional Cooperation - Chamber of Commerce and Industry (SAARC-CCI) President Iftikhar Ali Malik expressed these views while talking to a delegation of industrialists led by Mian Aftab Zia Arain here on Sunday.

He said that the industry under this package would further benefit and industrial units of B3 and B4 categories would continue to get electricity at flat rate of Rs 12.96 per unit, which was a good decision at right time and in the right direction. He said that federal government in this regard had already earmarked Rs 26 billion amount of subsidy for next fiscal year 2021-22.

Malik said the NEPRA (National Electric Power Regulatory Authority) had also approved same package across the country without the application of expensive peak charges. He said that industrial support package had contributed significantly to the growth in industrial output and resultantly, the economic growth rate.

Iftikhar Ali Malik said this package of cheap electricity would bring down the cost of production and ultimately help a lot Pak exporters to compete in international markets especially with their neighbouring competitors. He added that 24/7 supply of electricity to industry would also play a key role in meeting the export targets timely.

SAARC-CCI President observed that under the dynamic leadership of Prime Minister Imran Khan, the country was now moving towards prosperity with sustainable economic growth. He said IPPs expensive electricity caused price-hike and inflation in the country which affected the poor segments of the society a lot. He said cheap electricity was imperative for the survival of the industry which was possible only through launching of new hydropower projects.

Malik expressed his gratitude to Prime Minister Imran Khan and Federal Finance Minister Jehangir Tarin for accepting their demands in the budget for FY 2021-22. He, on behalf of business community, assured full cooperation to the government for bringing economic revolution in the country.