Karachi, President of the Korangi Association of Trade and Industry (Kati) Johar Kandhari has lauded the government's decision to lower electricity and petroleum product prices, which includes a significant drop of over Rs 10 per unit and per liter respectively, as announced by Prime Minister Shehbaz Sharif. This reduction is seen as a significant move for local industrialists and exporters.
According to Korangi Association of Trade and Industry, the government has made substantial cuts to the cost of electricity and petrol. Kandhari highlighted that the initial reduction in electricity rates was overshadowed by a subsequent Rs 5 increase by Nepra, netting a total relief of only Rs 5 per unit. He also noted the necessity of transferring the benefits of these reductions to the grassroots level to ensure all segments of society and the economy feel the relief. Kandhari urged the government to consider further reductions in production costs and taxes to enhance the competitiveness of Pakistani products globally.
Kandhari also expressed approval of the pre-Eid-ul-Adha petrol price cut, which provided direct relief up to Rs 10. However, he pointed out the lack of corresponding decreases in transport fares, which could further benefit both the common man and industrial sectors by reducing overall transportation costs. The Kati President called for the government to engage with stakeholders to address ongoing challenges within the business community, suggesting that easing tax burdens could lead to a boost in exports and subsequently increase national revenue.