KARACHI: United Business Group (UBG) Patron-in-Chief S. M. Muneer, Secretary General Zubair Tufail, Central Spokesperson Gulzar Feroze and Chairman Sindh Zone Khalid Tawab have welcomed the announcement of relief in electricity tariff for 5 zero-rated export industries.

S.M.Muneer said that this initiative of the government will reduce the cost of production and we will be able to compete in the global market.

The UBG leaders said that our group has been demanding of the government to provide relief to the export sectors, especially the tariff of electricity, gas and other utilities since long.

They said that Prime Minister Imran Khan while acknowledging our demand gave relief to five zero-rated exports sector.

They noted that Abdul Razaq Dawood, trade adviser to Prime Minister Imran Khan, in a statement on social media announced that relief in electricity rates for industries for July and August should be 7.5 cents per unit and then 9 cents per unit.

The leaders said the government's move would reduce production costs and help export industries, which are struggling with the coronavirus, not only to recover but also be able to compete with other countries' products in the global market.

The UBG leaders thanked Prime Minister Imran Khan and Adviser Abdul Razaq Dawood for addressing the plight of the five zero-sector sectors. The government's decision is expected to benefit in power tariff by Rs8.5 per unit in July and August period and the benefit for rest of the period will be up to Rs6 per unit

They said that five export industries get electricity at Rs21 per unit. These five export industries include textile, leather, carpet, sports, surgical and other manufacturing industries.

Copyright Business Recorder, 2020