Islamabad,(Daily Parliament Times):
The Pakistan Industrial and Traders Associations Front (PIAF) has welcomed the federal government’s newly announced economic reform package, describing it as a positive and much-needed step toward stabilising the economy and restoring industrial confidence, while urging authorities to introduce further structural improvements to ensure long-term, export-led growth. Senior PIAF leaders said the reduction in electricity tariffs for industries, lower wheeling charges, and a cut in the export refinance scheme rate would provide immediate relief to exporters and manufacturers struggling with high operational costs.
PIAF Chairman Faheemur Rehman Saigol lauded Prime Minister Shehbaz Sharif’s decision to prioritise industry and exports at a critical time for the economy. He said the Rs4.04 per unit reduction in electricity tariffs for industries and the lowering of the export refinance rate to 4.5 percent would significantly ease liquidity pressures on exporters and help Pakistani products regain competitiveness in international markets. According to Saigol, these measures reflect the government’s seriousness in supporting the productive sectors that generate employment, foreign exchange, and economic momentum. However, he emphasised that while the relief package is encouraging, it should be seen as the beginning rather than the end of reform.
Saigol noted that Pakistan’s industrial sector has faced prolonged challenges due to inconsistent policies, high energy costs, and regulatory bottlenecks. He stressed that for the reforms to translate into sustainable growth, the government must ensure policy continuity, predictable energy pricing, and timely tax refunds. He also urged authorities to expand incentives for value-added exports, stating that moving up the value chain is essential for increasing export earnings and reducing reliance on external borrowing.
PIAF Senior Vice Chairman Nasrullah Mughal also appreciated the government’s engagement with the business community and its recognition of exporters as the backbone of the economy. He said the reduction in wheeling charges would help industries optimise energy use and lower production costs, particularly for large manufacturing units capable of generating surplus power. Mughal added that the easing of inflation and the decline in the policy rate have improved sentiment in the market, but warned that ground realities for small and medium enterprises remain difficult.
Mughal pointed out that SMEs continue to struggle with access to affordable financing, rising input costs, and compliance-related hurdles. He suggested that the government should introduce targeted support packages for SMEs, including simplified lending procedures, capacity-building programmes, and incentives for technology adoption. He said that without bringing SMEs fully into the export ecosystem, the goal of broad-based and inclusive growth would remain elusive.
Vice Chairman Tahir Manzoor Chaudhry echoed similar views, saying the government deserves credit for averting default and stabilising key macroeconomic indicators under challenging circumstances. He described the focus on export-led growth and foreign direct investment in export-oriented projects as the right strategic direction for Pakistan’s economy. However, Chaudhry stressed that stability must now be converted into sustained growth through deeper reforms in taxation, energy, and governance.
Chaudhry called for further rationalisation of energy tariffs across sectors to eliminate distortions and ensure a level playing field. He also urged the government to reduce the cost of doing business by streamlining regulations and improving coordination between federal and provincial authorities. According to him, restoring investor confidence requires not only incentives but also transparency, consistency, and swift dispute resolution mechanisms.
PIAF leaders collectively expressed hope that the government would continue consulting the private sector while formulating future economic policies. They reaffirmed their commitment to working with policymakers to boost exports, attract investment, and create jobs. While hailing the current reform package as a strong signal of intent, they maintained that sustained economic revival will depend on continuous improvement, institutional reforms, and a shared commitment between the public and private sectors to build a resilient and competitive economy.