Comprehensive relief package on electricity costs to be announced soon: PM
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Prime Minister Shehbaz Sharif has announced that a comprehensive package will soon be introduced to reduce electricity costs for the public.
Chairing a meeting on the Power Division in Islamabad on Sunday, PM Shehbaz Sharif emphasised that ongoing reforms in the power sector would enable the government to provide relief on electricity prices.
He directed officials to dispel misconceptions about the government's solarisation policy through factual communication, reaffirming that the promotion of renewable energy remains a priority.
Additionally, the prime minister called for an accelerated privatisation process for power distribution companies and urged the resolution of legal and administrative hurdles affecting the liquidation of generation companies.
PM also instructed enhanced coordination between the Power Division, Water Resources Division, and Petroleum Division to formulate a unified energy sector strategy.
Earlier, it was reported that Prime Minister Shehbaz Sharif had been expected to officially announce a reduction in electricity tariffs by Rs8 per unit on March 23, following approval from the International Monetary Fund (IMF).
According to sources, the Ministry of Finance and the Power Division had explored additional measures to further lower electricity rates by Rs2 per unit. A final decision had been made before the official announcement.
The reduction, set to take effect from April 1, 2025, was expected to be reflected in consumer bills starting in May. Of the Rs8 per unit decrease, Rs4.73 per unit had been designated as a permanent adjustment.
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