PM Shehbaz directs energy ministry to reduce power costs

Prime Minister Shehbaz Sharif on Tuesday instructed the Ministry of Energy to present a comprehensive plan to reduce electricity costs.

Chairing a meeting of the National Export Development Board in Islamabad, the PM emphasised the necessity of lowering power expenses to boost industrial growth.

During the briefing, officials noted that Pakistan's exports surpassed $30 billion this year.

The prime minister set an ambitious target to double the annual exports to $60 billion within the next five years, urging the Ministry of Commerce and other relevant agencies to take practical steps to achieve this goal within three years.

PM Shehbaz praised the resilience of the business community, acknowledging their contributions despite challenging conditions.

He highlighted that last fiscal year, Pakistan's exports exceeded $30 billion, with information technology exports crossing $3.2 billion.

The Prime Minister also called for immediate resolution of shipping issues to shorten delivery times to Europe and the United States.

Additionally, he demanded that the Federal Board of Revenue ensure no delays in refund processing for exporters.

The Ministry of Energy was tasked with developing a plan to reduce power costs for industries.