Prime Minister Shehbaz Sharif has announced a reduction in electricity prices in the country, to which the Patron-in-Chief of the United Business Group (UBG), S.M. Tanveer, stated that this initiative by the government will promote industrial activities and accelerate businesses.

Congratulating the leadership of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), S.M. Tanveer said that the government is serious about reviving industry and business in the country. He also mentioned that Dr. Gohar Ejaz raised the issue of Independent Power Producers (IPPs) in collaboration with UBG and FPCCI.

S.M. Tanveer further emphasized the urgent need to create employment opportunities in the country. He mentioned that the Finance Minister had assured the UBG delegation of a reduction in electricity rates. He highlighted that he had been advocating for a reduction in electricity prices consistently for the past ten months and reaffirmed that UBG would continue its mission to serve the business community.

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Expressing his determination, S.M. Tanveer stated that, God willing, they would also bring bank interest rates down to single digits.

Lahore Chamber Welcomes Reduction in Electricity Prices

The Lahore Chamber of Commerce and Industry (LCCI) has welcomed the Prime Minister’s decision to reduce electricity prices.

LCCI President Mian Abuzar Shad stated that this was a long-standing demand, and its fulfillment is a positive development for the business community. He further said that this decision would enhance exports and production capacity. Meanwhile, Vice President Shahid Nazir Chaudhry remarked that it would help reduce inflation.

LCCI leaders emphasized that business-friendly initiatives by the government are crucial for economic recovery, and the Prime Minister’s move is a significant step in this direction. Senior Vice President Engineer Khalid Usman also praised the decision, stating that it would strengthen industrial growth.