ISLAMABAD : Prime Minister Imran Khan on Wednesday said that expensive electricity production becomes a hurdle in the growth of small and medium enterprises as it increases the cost of production and eventually makes it difficult for domestic products to compete with foreign goods in international markets.

Chairing a meeting on the promotion of industrial processes, especially the problems faced by small and medium enterprises and their solutions, the premier said that the country’s development is linked to the promotion of industrial processes.

The meeting was attended by federal ministers Hammad Azhar, Asad Umar, Umar Ayub, Adviser on Commerce Abdul Razak Dawood, special assistants Nadeem Babar and Tabish Gohar, federal secretaries of finance, energy, petroleum and other senior officials. 

They discussed various proposals for resolving issues facing industries, especially small and medium enterprises, including costly electricity.

In order to save the industrial sector, especially the small and medium enterprises from the current economic situation and the losses caused by the coronavirus, it was imperative to find solutions to the problems facing the industrial sector on a priority basis, the prime minister maintained.

Welcoming various proposals put forward in this regard, he said all possible efforts and steps would be taken to promote the industrial process and utilize the existing capacity in the country.

The prime minister also directed that the proposals put forward to the industrial sector for resolving energy-related issues should be finalised as soon as possible so that they could be implemented immediately.