PBF Urges Immediate Cut in Electricity Tariffs to Boost Economy

Karachi: Pakistan Business Forum (PBF) has issued a stark warning about the state of Pakistan’s economy, stressing that the current high electricity tariffs are undermining industrial growth, threatening businesses, and jeopardizing nationwide employment. In a statement PBF President Karachi, Malik Khuda Baksh highlighted the urgent need for the government to reduce electricity tariffs to Rs26 per kWh. He described this move as not just a policy change, but as an essential step for revitalizing the economy and safeguarding millions of livelihoods.

According to a statement by Pakistan Business Forum, Malik emphasized the burden that exorbitant electricity costs have placed on Pakistan’s industries and small to medium-sized businesses, which he said are struggling to survive in a volatile economic climate. He argued that reducing electricity tariffs would lower operational costs, stimulate industrial growth, and foster a more resilient economy, benefiting both the business sector and the workforce.

Malik stressed the critical role of affordable electricity in maintaining a stable and efficient supply chain, which he referred to as the backbone of the national economy. He noted that high electricity tariffs have led many businesses to shut down due to unsustainable energy costs, resulting in long-term economic losses.

He warned that the longer the government delays implementing tariff reductions, the more severe the economic repercussions will be. Malik urged immediate action to prevent further deterioration and secure a better future for Pakistani citizens.

Highlighting the government’s restructuring of Independent Power Producer (IPP) contracts, Malik pointed out that the resulting substantial savings should be passed directly to consumers. He called on policymakers and relevant stakeholders to prioritize this reform for the benefit of the nation’s economic health.

The PBF Karachi Chief concluded by emphasizing that reducing electricity tariffs to Rs26 per kWh is more than just a policy decision—it is a lifeline for the country’s industries, a safeguard for jobs, and a catalyst for a stronger, more competitive Pakistan.