Business leaders seek rate cut, power relief to spur exports

Business leaders on Saturday called on the government to create a pro-business environment by cutting interest rates, lowering power tariffs, and supporting export-led growth. Speaking at a joint press conference on the economic roadmap, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh and United Business Group Patron-in-Chief S.M. Tanveer said reducing the policy rate from the current 11pc to 6-7pc would not only stimulate investment but also help the government save about Rs3.5tr annually in debt servicing. They noted that the power tariff had already fallen to Rs31 per unit from Rs48 through FPCCI’s efforts, with further negotiations underway to bring it down to nine cents (around Rs26 per unit). Lower energy costs, they argued, would improve competitiveness for domestic producers and exporters.