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Pakistan cuts industrial power costs, export rates to boost economy amid ongoing challenges.
Prime Minister Shehbaz Sharif announced cuts to industrial electricity tariffs by up to Rs4.40 per unit and reduced wheeling charges to below Rs9, along with lowering the export refinance rate to 4.5%, to boost industry and exports.
He highlighted economic stabilization, with inflation in single digits and foreign exchange reserves doubled, citing support from China, Saudi Arabia, the UAE, and Qatar.
The government also introduced two-year "Blue Passports" for top exporters and pledged tax reductions, anti-smuggling efforts, and privatization transparency.
Despite progress, challenges like unemployment and slow export growth remain, with calls for further policy rate cuts.
Pakistán recorta los costos de energía industrial y las tasas de exportación para impulsar la economía en medio de los desafíos en curso.