Gold Prices Fall, Dollar Cheaper On Interbank Market

• PM Imran Khan has announced to provide electricity to all types of industries at 25 percent cheaper rates to boost industrialization and increase exports in the country.
• Prime Minister said that unfortunately expensive power contracts were signed which caused many problems in the country.
• He said that for the next three years, electricity would be provided to all types of industries at a 25 per cent lower cost, meaning that full time off-pack hours would now be considered for industries.

 

25% cheaper electricity for industries

PM to provide electricity to industries at 25% lower price for three years.

Prime Minister Imran Khan has announced to provide electricity to all types of industries at 25 percent cheaper rates to boost industrialization and increase exports in the country.

Addressing a press conference in Islamabad along with federal ministers and finance advisers, the Prime Minister said that electricity generated in Pakistan is 25 percent more expensive than the electricity supplied to industrialists in India and Bangladesh with which our exports are competitive.

Explaining the reason for high cost of electricity, the Prime Minister said that unfortunately expensive power contracts were signed which caused many problems in the country and one problem is that our industry is competing with low-cost power consuming industries.

From 2013 to 2018, our exports started declining instead of increasing and fell from  25 billion to  20 billion, he said. We tried to increase exports as soon as we came to power. As exports increase, the money will flow into the country, wealth will increase and the rupee will strengthen.

He said that we have given a lot of concessions to the exporters and Pakistan in the subcontinent is the country whose exports came out of the effects of the epidemic fast and anyway Pakistan has dealt with the epidemic situation best which the world Confessed.

Announcing a package, the Prime Minister hoped that it would boost exports and local industries. “We have decided to start using more electricity than usual for small and medium enterprises from November 1 next year,” he said. 50% discount will be given till June.

He said that for the next three years, electricity would be provided to all types of industries at a 25 percent lower cost, meaning that full time off-pack hours would now be considered for industries.

The Prime Minister said that sales of cement in Pakistan have reached record levels, sales of vehicles, and motorcycles have increased while the construction industry is also developing, which will create employment opportunities, he said. I will come as a result of which we will be able to repay our debts.

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