ISLAMABAD: Caretaker Federal Minister for Commerce, Interior, Industries, Investments and Overseas Pakistanis, Dr Gohar Ejaz has emphasized the critical role of energy prices in sustaining industrial growth and competitiveness in Pakistan.
He highlighted the necessity of providing industries with affordable power rates to support their operations and contribute to the country’s economic development, according to an official statement issued here on Saturday.
The Minister underscored the significance of maintaining energy prices at nine cents per unit for industries, stating that it is essential for the survival of the industrial sector in Pakistan.
He emphasized that industries cannot be burdened with subsidizing other sectors, as they play a crucial role in job creation, exports, and import substitution.
Addressing the dilemma of subsidizing households versus creating employment opportunities, the Minister emphasized the need to prioritize industrial growth to stimulate economic prosperity.
He emphasized the importance of enhancing exports and making Pakistan’s manufacturing sector viable to achieve ambitious targets in global markets, including China, GCC countries, Africa, ASEAN, EU, UK, and USA.
The provision of electricity at nine cents per unit to industries aims to level the playing field for local industries and enhance their competitiveness on the global stage.
The proposal has also received approval from the Special Investment Facilitation Council (SIFC), reflecting the government’s commitment to supporting industrial growth.
The Minister expressed optimism that the incoming government would decide on the issue, enabling industries to operate more efficiently and contribute significantly to Pakistan’s economic prosperity.
