Islamabad, [2nd March, 2024] – The Federal Minister of Commerce, Interior, Industries, Investments and Overseas Pakistanis, Dr. Gohar Ejaz emphasized the critical role of energy prices in sustaining industrial growth and competitiveness in Pakistan. In a recent statement, the Minister highlighted the necessity of providing industries with affordable power rates to support their operations and contribute to the country’s economic development.
Minister Dr. Gohar Ejaz, underscored the significance of maintaining energy prices at 9 cents per unit for industries, stating that it is essential for the survival of the industrial sector in Pakistan. Minister Ejaz 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, Minister Ejaz 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 9 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.
Minister Ejaz 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.
