The Pakistani cabinet has announced a major relief package in electricity prices for small and medium scale industries to enhance the country's exports.
In a televised address on Tuesday after a meeting of the cabinet, here, the country's Prime Minister Imran Khan and the cabinet members said that the industries using additional electricity compared to the amount they used in November last year, will get 50 percent discount on the additional units they consume, encouraging the industrial sector to increase their production.
Khan said that the relief package will start from Nov. 1 and will last till the end of the ongoing fiscal year in June 2021.
He added that all the industries have been exempted from peak hours during which the industrial sector had to pay 25 percent additional money for using the electricity, adding that the price of the power will remain the same during the whole day for the sector.
Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh said that the country's economy is on a positive trajectory despite COVID-19 and lockdowns in the past.
Shaikh said that the country's exports have also seen a rise despite the pandemic, and with the newly announced package, the industrial sector will further thrive. Enditem