LAHORE: The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has welcomed the cut in power tariff for small & medium enterprises (SMEs).
The association stated that the three-year relief package will boost exports and enhance the competitiveness of the local industry.
PHMA Zonal Chairman Faisal Mehboob Sheikh observed that the ‘Industrial Energy Package’ announced by the prime minister would boost productivity, lower costs and generate employment.
“Elimination of peak hours from electricity tariff of all industries, 50 per cent discount on consumption of additional units for B1, B2 B3 connections till June 2021, and 25 per cent discount on additional consumptions for all industrial connections for three years is really a great relief for the industry and we are very happy with this decision,” the PHMA zonal chief said.
He noted that Pakistan’s exports had become expensive compared to the regional competitors. The discounted power rates would provide a breather to the export sectors and indicate that the economy is now moving towards a positive direction, he added.
