Prime Minister Shehbaz Sharif has committed to reducing electricity prices in Pakistan, a key agenda for PML-N President Nawaz Sharif and the current government. This initiative aims to provide significant relief to electricity consumers and boost the country’s economic growth.
During a Cabinet meeting, PM Shehbaz stressed that lowering electricity costs is crucial for enhancing the competitiveness of Pakistan’s agricultural and industrial sectors. He pointed out that without reduced electricity prices, these sectors cannot expand effectively, which in turn affects the country’s export potential.
The Prime Minister directed ministers and government officials to communicate the steps taken by successive PML-N governments to eliminate load-shedding. He also announced an extension of the deadline for paying electricity bills by 10 days and a reduction in the electricity tariff for the industrial sector by Rs 8.5 per unit. The government is providing a substantial Rs. 170 billion subsidy to support this tariff reduction.
Recognizing the financial strain on the salaried class, PM Shehbaz highlighted a Rs. 50 billion subsidy for consumers using up to 200 units of electricity per month. He also addressed the ongoing efforts to resolve issues with Independent Power Producers (IPPs), acknowledging that these challenges cannot be resolved overnight but are being actively managed.
The government’s focus on reducing electricity prices aims to foster economic growth, enhance industry competitiveness, and provide much-needed relief to the people of Pakistan.
