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Saturday, 31 January, 2026 | 11 Sha’ban, 1447
Rs 20.00 | Vol XVI No 207 | 8 Pages | Lahore Edition
POWER TARIFF SLASHED, EXPORT FINANCE CUT AS PM UNVEILS EXPORT-LED GROWTH PUSH TO REVIVE ECONOMY
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PACKAGE INCLUDES ELECTRICITY TARIFFS CUT AND WHEELING CHARGES REDUCED
PM URGES INDUSTRIALISTS TO FOCUS EXPORT-LED GROWTH AND SUSTAINABLE INVESTMENT
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ISLAMABAD
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BLUE PASSPORTS FOR TOP EXPORTERS, REFINANCE RATE LOWERED TO 4.5%
CALLS FOR INCREASED LENDING AND ENTREPRENEURSHIP PROMOTION; TOP EXPORTERS AND BANKERS AWARDED FOR CONTRIBUTION
Staff report
RIME Minister Muhammad Shehbaz Sharif on Friday announced major relief measures for Pakistan’s industrial and export sectors, including a Rs 4.04 per unit cut in electricity tariffs for industry and a reduction in wheeling charges to below Rs 9. Speaking at the award ceremony for top exporters of 2024–25, the prime minister also revealed a significant drop in the export refinance scheme rate from 7.5 percent to 4.5 percent and announced the issuance of blue passports for leading exporters for two years. The government has allocated Rs 1,052 billion for the refinance scheme, of which Rs 900 billion has already been utilized. PM Shehbaz emphasized that Pakistan’s long-term economic revival depends on export-led growth and foreign direct investment in export-oriented projects. “There is no other way forward. Export-led growth is the only solution for Pakistan’s economic future,” he said, adding that FDI would now be encouraged only in projects that generate foreign exchange and
strengthen reserves. Paying tribute to exporters, the prime minister said they were the backbone of the national economy and credited their resilience for helping Pakistan navigate past economic crises. He noted that inflation, which had peaked at 32 percent in June 2023, was now in sin-
gle digits, policy rates were down to 10.5 percent, and foreign exchange reserves had doubled over three years, including support from friendly countries. The prime minister urged banks to increase lending to small and medium enterprises to promote entrepreneurship and diversify the economy. He also stressed tax compliance, warning industries against withholding consumer taxes, and highlighted government efforts that recovered Rs 50 billion from sugar mills and Rs 125 billion via control of petroleum smuggling. On digital development, PM Shehbaz said the government aimed to boost IT exports from $3 billion to $30 billion within five years, praising Minister Shaza Fatima Khawaja for her efforts. He also recognized Deputy Prime Minister Ishaq Dar and other cabinet members for their role in economic reforms, privatization, and export promotion. Commerce Minister Jam Kamal Khan added that Pakistan was regaining international recognition due to the government’s engagement with the business community. During the ceremony, the prime minister awarded the top 30 exporters and leading bankers for their contributions to the national economy in fiscal year 2024–25.
Dar calls GSP+ vital for strengthening Pakistan–EU trade ties ISLAMABAD
Staff report
Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday underscored the importance of the Generalised Scheme of Preferences Plus (GSP+) as a key framework for mutually beneficial trade between Pakistan and the European Union (EU).
The EU’s GSP+ scheme provides developing countries with preferential access to European markets in return for commitments to sustainable development and good governance. Beneficiary countries are required to implement 27 international conventions related to human rights, labour standards, environmental protection and governance, while the EU grants
zero-duty access on more than twothirds of its tariff lines. Pakistan is currently among eight countries benefiting from the scheme. According to a post by the Foreign Office on X, Dar chaired a high-level inter-ministerial meeting to review ways to strengthen Pakistan’s economic and trade relations with the EU. During the meeting, the foreign
minister highlighted the need to enhance trade cooperation, explore new avenues for economic engagement and further deepen Pakistan–EU economic ties. “He emphasised that GSP+ remains a crucial framework for mutually beneficial trade and underlined the need to maximise its potential for Pakistan’s economic growth,” the Foreign Office said.
CDF Munir, Turkish General discuss regional security, boost Pakistan-Turkiye defence ties RAWALPINDI
Staff CorreSpondent
Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Asim Munir on Friday held talks with Turkiye’s Chief of General Staff General Selcuk Bayraktaroglu on regional security and bilateral defence cooperation, the military’s media affairs wing said. According to the Inter-Services Public Relations (ISPR), General Bayraktaroglu was received at the General Headquarters in Rawalpindi, where he was presented with a guard of honour by a contingent of the Pakistan armed forces. During the meeting, the two leaders discussed matters of mutual interest, the prevailing regional and global security landscape, and ways to further strengthen bilateral defence and military cooperation. Both expressed satisfaction with the current trajectory of Pakistan–Turkiye relations and underscored the importance of close coordination between their armed forces. CDF Munir highlighted the longstanding brotherly ties between Pakistan and Turkiye, rooted in shared history, mutual trust, and strong people-to-people connections. He appreciated the support and cooperation of the Turkish armed forces and reaffirmed Pakistan’s commitment to deepening military-to-military relations. General Bayraktaroglu expressed gratitude for the warm reception and praised the professionalism of the Pakistan armed forces. He reaffirmed Turkiye’s commitment to enhancing defence collaboration, including training, joint exercises, and capacity-building initiatives. The ISPR statement concluded that the visit reflects the enduring strategic partnership between Pakistan and Turkiye and their shared commitment to regional peace, stability, and security.