By Commerce Reporter
LAHORE – The Lahore Chamber of Commerce & Industry has appreciated Prime Minister Shahbaz Sharif’s decision to reduce electricity prices by Rs. 7.59 per unit for industries and Rs. 7.41 per unit for domestic users, terming it a landmark move for economic revival, industrial sustainability and relief for consumers.
Read also: LCCI demands immediate reduction in electricity prices and abolishment of fixed charges
LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry lauded the government’s initiative, saying that high electricity prices have been one of the biggest challenges for the business community. They said that this price cut will significantly reduce production costs, enhance industrial competitiveness and provide relief to households struggling with inflation.
They said that the reduction in electricity prices by Rs. 7.59 per unit for industries and Rs. 7.41 per unit for domestic users is a positive step towards economic recovery, industrial expansion and inflation control. The Lahore Chamber believes that this initiative will strengthen Pakistan’s industrial base, boost exports, create jobs and provide financial relief to millions of households.
They said that cut in electricity prices was longstanding demand of the Lahore Chamber of Commerce and Industry. He said the Lahore Chamber has consistently advocated for lower electricity tariffs as high energy costs were eroding our industrial competitiveness. This price cut will allow industries to expand production, boost exports and attract foreign investment, ultimately strengthening Pakistan’s economy.
LCCI President, Senior Vice President and Vice President said that the high cost of doing business in Pakistan has been a key hurdle in achieving sustainable economic growth and this reduction in electricity prices is a significant relief for industries already facing economic pressures.
They said that Pakistan’s exports have been struggling due to rising costs of energy, raw materials and logistics. They added that with lower power tariffs, industries will be able to produce goods at competitive rates, making our exports more viable in global markets. This decision will help restore Pakistan’s position in international trade, particularly in key sectors like textiles, leather and manufacturing.”
The LCCI office-bearers hoped that the government would continue supporting industries through business-friendly policies to ensure long-term economic stability.
They said that SMEs are the backbone of Pakistan’s economy and they have been struggling due to high electricity costs. This decision will ease their financial burden, allowing them to reinvest in business expansion and job creation. Lower production costs will also help reduce inflation and benefit the entire economy.
They said that foreign investors closely monitor electricity prices as a key factor in deciding investment destinations. They said that high energy costs have been a major deterrent for foreign investment in Pakistan. This price reduction will improve investor confidence and encourage new investments in industrial and manufacturing sectors, leading to economic growth and employment generation.”
“Apart from benefiting industries, the reduction in electricity tariffs will significantly help domestic consumers, who have been burdened by high utility bills”, they added and said that lower electricity bills will provide relief to households, improving their disposable income and purchasing power.
They expressed optimism that the government will continue to take bold and business-friendly measures to support Pakistan’s economic revival and ensure long-term prosperity.
