Islamabad /Brussels, (Unib Rashid) — Prime Minister Muhammad Shehbaz Sharif on Friday announced a major relief and incentive package for exporters aimed at boosting Pakistan’s export-led growth, including a reduction in the Export Refinance Scheme (ERS) rate from 7.5 percent to 4.5 percent, a further cut of Rs4.04 per unit in electricity tariffs, and a Rs9 reduction in wheeling charges.

Addressing a ceremony held in honour of leading exporters and business figures, the prime minister also announced that top-performing exporters will be granted Blue Passports for a period of two years as a special facilitation measure.

The prime minister said exporters’ relentless efforts had brought billions of dollars into the country, helping stabilise the economy, which he said was now moving from stability towards sustainable growth. He praised the business community for performing exceptionally well despite challenging economic conditions.

Shehbaz Sharif said the government wanted to reduce electricity prices further and ideally cut tariffs by Rs10 per unit, but acknowledged existing constraints. He added that the government would engage with the International Monetary Fund (IMF) to seek the abolition of advance taxes to further ease the burden on businesses.

The event was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, several federal ministers, advisers, special assistants, and prominent exporters and business leaders. On the occasion, the prime minister also presented performance awards to leading exporters for the years 2024 and 2025.