KARACHI: Businessmen have welcomed Prime Minister Shehbaz Sharif’s decision to reduce the power tariff, saying that it will “release financial pressure on consumers struggling with their electricity bills”.

M. Abdul Aleem, Secretary General of the Overseas Investors Chamber of Commerce and Industry (OICCI), said “this is a good move despite rigid IMF conditionalities and limited fiscal space available to the government”.

But, he added, this move alone would not stimulate the large-scale manufacturing (LSM) sector. More policy decisions are needed to kickstart business activities.

“Nevertheless we compliment the PM and his team for the decision,” Abdul Aleem said.

Ehsan Malik, the CEO of Pakistan Business Council (PBC), said “any reduction in power rates is welcome,........

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