Prime Minister (PM) Shehbaz Sharif on Friday announced a Rs4.4 per unit reduction in electricity tariffs for industries, along with a Rs9 cut in wheeling charges, as part of government efforts to ease rising energy costs for businesses and strengthen export-oriented sectors.

The premier made the announcement while addressing a ceremony in honour of leading businessmen and exporters, attended by Deputy PM and Foreign Minister Ishaq Dar, federal ministers, entrepreneurs and exporters, in Islamabad.

PM Shehbaz said the relief in power tariffs was aimed at lowering the cost of doing business and enabling industries to compete more effectively in international markets. As part of broader support for exporters, he also announced a reduction in the tax rate for exporters from 7.5% to 4.5%.

Addressing the gathering, the PM said all future economic policies would be framed in close consultation with the business community, stressing that export-led growth remained the only viable path for economic recovery. 

He reiterated that the government did not believe in running businesses itself and that the private sector must lead economic activity, with the state providing a stable and predictable business environment.

Earlier, awards were distributed among exporters who made significant contributions to the national economy, with the premier personally presenting honours to prominent business figures from across the country. He also announced that traders receiving awards would be granted blue passports.

The PM praised exporters for performing strongly despite difficult economic conditions and said Pakistan’s exports had recorded a notable increase in 2025.

Referring to the broader economic situation, PM Shehbaz said the country had faced severe financial challenges amid speculation about default and bankruptcy when his government assumed office. He said inflation was gradually declining and policy rate had fallen from 22% to around 10.5%.

He also directed State Bank of Pakistan (SBP) Governor Jameel Ahmed to engage closely with business leaders and to listen to their concerns, reiterating that economic policies would be finalised after structured consultations with traders and exporters.