KARACHI: The industrial associations on Tuesday hailed the caretaker government's decision to slash the electricity tariff for industries to 9 cents per kilowatt hour (kWh) from 16 cents, saying it would boost exports and economic growth.
"Power tariff reduction to 9 cents/kWh will not only help in restoration of industrial competitiveness and reigniting the engine of the economy but would also go a long way in boosting the confidence of industrialists," said Muhammad Kamran Arbi, president of the SITE Association of Industry.
He said the move would stimulate exports across all sectors and create more jobs, foreign exchange earnings, and overall economic stability.
Nighat Awan, acting president of the Korangi Association of Trade and Industry (KATI), also praised the decision and urged the government to issue the notification of the same immediately.
"This move is anticipated to bring about a reduction in production costs for industries, reinstating their competitiveness in the global market," she said, adding that it would also reduce gas consumption and ease the burden of capacity charges and circular debt in the energy sector.
