Karachi: The United Business Group (UBG), a prominent business advocacy organization, has expressed support for the recent relief measures announced by Prime Minister Mian Muhammad Shehbaz Sharif aimed at aiding industrialists. According to United Business Group, the measures include a reduction in electricity tariffs and favorable financing terms for exporters.

The Prime Minister's address outlined a reduction of PKR 4.04 per kilowatt-hour in electricity tariffs for industries. Additionally, the Export Refinance Scheme (ERS) has been adjusted to offer a financing rate of policy rate minus 6 percent, down from policy rate minus 3 percent. These changes are intended to provide enhanced concessional financing support to exporters, alongside a reduction in wheeling charges by PKR 9 per kilowatt-hour.

S.M. Tanvir, the Patron-in-Chief of UBG at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), noted that these measures could alleviate some of the challenges currently facing industrialists. He acknowledged the potential impact of the Free Trade Agreement between India and the European Union on Pakistan's exports but expressed confidence in the Prime Minister's commitment to creating opportunities for Pakistani exporters to remain competitive.

UBG President Zubair Tufail also praised the reduction in the refinance rate for exporters, which has been lowered by 300 basis points to 4.5 percent, as an important step in supporting the nation's export sector.