ISLAMABAD: Prime Minister Shehbaz Sharif announced reduction of Rs 10.69 per unit in electricity tariff for industrial sector aimed at boosting exports and industrial production.

New electricity price per unit for industrial and export sector has been fixed at Rs 34.99. According to statement issued by PM Office, National Electric Power Regulatory Authority (NEPRA) had recommended reduction of Rs 10.69 per unit for industries.PM’s package is expected to provide relief of over Rs 200 billion to industries, making them competitive in global market. Package has been offered to bring country’s manufacturing cost of goods at par with international markets.Similarly, production cost of industrial and agriculture commodities would also be decreased as result of this historic PM package leading to increase in exports.Move is also likely to accelerate industrial growth, create new job opportunities and stimulate economic activity.