Haroon Akhtar says cut in electricity prices to be announced soon

Stating that Prime Minister Shehbaz Sharif was committed to the revival of industries in the country, Special Assistant to Prime Minister Haroon Akhtar Khan said on Monday that the prime minister would soon announce a cut in electricity prices for industries, reported 24NewsHD TV channel. 

Speaking at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Haroon Akhtar said that the prime minister was working for the betterment of the country’s economy. 

He informed that relief would also be granted in the Export Financing Scheme. “Inflation has come down while an increase has been witnessed in the foreign exchange reserves.” 

“Reduction in the police rate has had a healthy impact on the economy. All economic indicators are positive,” he claimed.  

Haroon further said that the prime minister wanted to see the country’s economic growth rate at 5 to 6 per cent, and it was possible. “It was time we restored the confidence of investors,” the special assistant said, adding the country had to approach the IMF for economic stability.   

He said there was a need to enact bankruptcy law in the country in order to save debtors from creditors. 

Haroon also stressed the need for access to credit. “But the banks are not happy to fund the private sector,” he noted.

Haroon Akhtar said a package will be introduced to revive sick industrial units. He said the Prime Minister is supportive of this initiative and has tasked him with bringing about the package.

He emphasized that the revival of sick industrial units will help generate job opportunities. He further mentioned that his efforts will also focus on ensuring access to credit and long-term financing for businesses.