Karachi: The Pakistan Cloth Merchants Association (PCMA) has welcomed the Prime Minister’s announcement of major relief measures for exporters and the industrial sector, calling them a timely step to enhance Pakistan’s export competitiveness and revive industrial growth.
Ahmed Chinoy described these initiatives as a timely and decisive intervention that underscores the government’s commitment to fostering sustainable economic growth.
The Chairman lauded the government’s strategic decision to reduce the Export Refinance Scheme (ERS) rate by a substantial 300 basis points, lowering it from 7.5% to 4.5%. He emphasized that this reduction will markedly ease working capital constraints for exporters, enhancing their operational efficiency and fortifying their ability to compete effectively in global markets.
In addition, Ahmed Chinoy highlighted the significance of the reduction in industrial electricity tariffs, amounting to approximately PKR 4 per kWh, coupled with a PKR 4.04 per unit decrease in wheeling charges. He observed that the alleviation of energy costs will provide crucial operational relief to energy-intensive industries enabling them to sustain production, improve profitability, and remain competitive amid global challenges.
“These measures send a resounding pro-export and pro-industry signal,” Ahmed Chinoy asserted. “The combined impact of reduced financing costs and lower energy tariffs will enhance liquidity, alleviate operational pressures, and elevate competitiveness across key sectors, particularly textiles, which form a cornerstone of Pakistan’s export economy.”
Ahmed Chinoy further noted that the relief package is poised to stimulate export growth, strengthen debt-servicing capacities for exporters, and contribute to a more stable and resilient industrial framework. He stressed the critical importance of timely and transparent implementation guidelines to ensure that the benefits are delivered efficiently and without bureaucratic delay.
“The Pakistan Cloth Merchants Association is committed to sustained engagement with the government to reinforce the textile value chain and advance an export-driven, industrially robust economy,” he concluded, underscoring the sector’s readiness to capitalize on these reforms.
