Karachi, In a decisive meeting with the Karachi Chamber of Commerce and Industry (KCCI), Prime Minister Shehbaz Sharif directed Federal Ministers and Secretaries to engage in further discussions to address the pressing issues presented by the business community in Karachi. The Prime Minister committed to personally reviewing the outcomes of these discussions and is set to announce relief measures on May 1.
According to Karachi Chamber of Commerce and Industry, the session, which took place at CM House on Wednesday, was attended by notable figures including KCCI Chairman Zubair Motiwala and President Iftikhar Ahmed Sheikh. The Prime Minister responded to a range of concerns from high utility tariffs to the controversial SRO350, and issues with Customs rebates and refunds. He assured the business leaders that steps would be taken to harmonize gas and electricity tariffs with those in competing regional countries to bolster Pakistani exports and industrial competitiveness.
The meeting also addressed severe water shortages in Karachi, with the Prime Minister promising to expedite funding for the essential K-IV project. On financial concerns, Prime Minister Sharif acknowledged the challenges posed by the ongoing IMF program but instructed the Finance Minister to explore feasible ways to reduce interest rates following recent easing of inflation.
Zubair Motiwala advocated for realistic gas pricing without cross-subsidies and urged the government to introduce wheeling charges for LNG to ensure stable gas tariffs for the industrial sector. He also emphasized the need to address electricity surplus and idle capacity charges that exacerbate the power sector's circular debt.
Further, Motiwala called for immediate action on several administrative and policy issues affecting business operations, including the potential industry status for the Modern Warehousing and Logistics Sector and the implementation of a single-window system for industry-government interactions. The KCCI leadership also highlighted the distress caused by what they described as unjust raids by Customs officials, pressing for more humane and legal handling of such operations.
The Prime Minister agreed to regular tri-monthly meetings with the business community to directly address and resolve ongoing issues, reflecting a proactive approach to fostering a supportive business environment in Pakistan's largest economic hub.