Karachi (April 03, 2025) – Rafique Suleman, former Chairman of the Rice Exporters Association of Pakistan (REAP) and Convener of the FPCCI Rice Standing Committee, has called for further reductions in electricity prices. He appreciated Prime Minister Mian Shahbaz Sharif’s recent announcement to lower electricity prices for industrial users by PKR 7.59 to PKR 40.60 per unit and for residential users by PKR 7.41 to PKR 34.37 per unit.

However, Suleman expressed concerns that the reduction is insufficient. He warned that high electricity costs could harm rice exports in the coming months. He urged the Prime Minister to take immediate action to lower prices further and abolish fixed charges.

High Prices Hinder Economic Growth

Suleman pointed out that Prime Minister Shahbaz Sharif has acknowledged that high electricity prices are a major obstacle to economic growth. He questioned why industrial electricity rates were not reduced more significantly, despite the government’s recognition of the issue.

He also recommended removing the 2% additional tax on solar plate imports. Simplifying net metering procedures would also help reduce energy costs for industries, he added.

Support for Rice Cultivation Policy

Rafique Suleman praised Chief Minister Punjab Maryam Nawaz’s decision to reject the proposal to ban the cultivation of two rice crops. He called it a positive move that would increase rice production and benefit farmers. The policy would also boost foreign exchange earnings, which are crucial for Pakistan’s economy.

Business Community Stands with Economic Reforms

Suleman reaffirmed the business community’s support for economic reforms. He expressed confidence in the efforts of Army Chief General Syed Asim Munir and Prime Minister Mian Shahbaz Sharif to strengthen the national economy.

He emphasized that the business community will continue to back government initiatives aimed at economic stability and growth.