Additional electricity to be provided on half rates to SMEs: PM Imran
ISLAMABAD: Prime Minister Imran Khan on Tuesday said that from Nov 1, additional electricity would be provided on half rates to the small medium enterprises (SMEs) across Pakistan.
Addressing media while flanked by Minister for Industries and Production Hammad Azhar, Advisor to the Prime Minister on Finance Dr Abdul Hafeez Sheikh, Federal Minister for Planning, Development and Special Initiatives Asad Umar and Federal Energy Minister Omar Ayub in Islamabad, PM Imran announced the package for promotion of industrial sector.
“No time will be counted as peak hour for small industries. They would be provided electricity on off-peak hour rate round the clock,” he said.
He expressed the hope that the package would ramp up the exports. He said the complete industrial sector would be provided electricity at 25 percent less rates for the next three years. In comparison with last year, 50 percent discount will be given on use of extra power, he maintained.
The prime minister said that expensive agreements were signed by the previous governments for production of electricity in the country.
He said his government’s first priority was to push up exports as a country’s development relied on exports only. “We have had record sale of cement after covid-19, we have had remarkable sale of motorcycles and cars and our construction industry is kicking in,” he said.
Hammad Azhar said that reducing power price during peak hours will help the industries which shut down working during that time.
Imran Khan said the government took no loan from the State Bank of Pakistan the entire year. Pakistan fulfilled all its expenditures with its own resources in last one year, he said adding that no loan on the country was increased from Jun 30 to Nov 1 the following year.
On coronavirus situation, he said it was a hard time and people should ensure wearing facemasks
“This would be ungratefulness if we did not adopt precautionary measures after Allah (SWT) protected us from the first wave,” he said adding that Pakistan would run its industries but with SoPs.
Abdul Hafeez Sheikh said the government removed taxes on raw material. Exports climbed and flow of money increased under the Pakistan Tehreek e Insaf government, he said.
He said such a package was given in construction sector by the government where one could work without fear of the FBR.