Multan, Nov 5th:The Multan Chamber of Commerce and Industry (MCCI) Wednesday lauded the Industrial Support Package (ISP) announced by the Prime Minister Imran Khan. In a statement issued here, MCCI President Khawaja Salahuddin , Senior Vice President Ayed Iftikhar Ali Shah and Vice President Shafi Anis'A Sheikh said that the package was a need of the time and will help the industry in this post-COVID era. Prime Minister Imran Khan announced ISP that offers additional consumption of electricity to small and medium industries at 50 percent less rates which means; big and small industries would pay 25 percent less on consumption of additional electricity over the next three years. He has said the prime minister’s announcement for provision of affordable power to industries is another important step towards creating employment opportunities for the people and economic stability.In his statement he said the initiative to supply electricity to small and medium enterprises at subsidized rates would help run factories and also benefit poor workers. He said that reduction in the electric power tariff on incremental consumption of electricity by large scale manufacturing industry by 25 percent and 50 percent for medium enterprises (SMEs) is a landmark decision .He said that Pakistan would be able to compete neighbouring countries in World Market and our exports would increase considerably.“Govt has worked out some assumptions under which 500-700MWs more electricity will be utilized in the next eight months by the large industry and small medium enterprises (SMEs) but it will provide to some extent solace to the government in terms of capacity payments." The official sources said that the government has decreased the power tariff on additional use of electricity for large scale industry by 25 percent to Rs12.9 per unit from Rs18 per unit for the next three years from November 1, 2020. And the tariff for Small Medium Enterprises has been reduced from Rs16 to Rs8 per unit till June 2021 and after that it will be reassessed if the package for SMEs will continue or not.
