ISLAMABAD, (DNA) – The federal government has slashed power tariff for five zero-rated industries to provide incentive to the export sector.

The government’s step to ensure supply of cheaper electricity will help the export industries to cut down the production cost.

The Power Division of the Ministry of Energy has notified reduction in the power tariff by three rupees per kilowatt hour for five zero-rated industries.

According to the notification, the decision will be implemented in all power transmission companies including the K-Electric.

The zero-rated industries will be supplied power on concessional rate of Rs.10.50 per unit.

The decision taken by Prime Minister Imran Khan will be enforced for five export industries including textile, surgical instruments, sports goods, carpets and leather industries.

The export sector industries have welcomed the government’s decision for boosting the exports.

The textile manufacturers had earlier lauded the government’s decision, adding that the mills were closing in Punjab due to expensive electricity and gas but the government decision would go a long way and will provide relief to industries.

It is pertinent to mention here that the government had earlier announced concessional power tariff for the export sector to help the industries keep their production cost down for competing in the international market.