Prime Minister Shehbaz Sharif has announced that an integral package will soon be introduced to reduce electricity costs for the public.
By chairing a meeting on the Energy Division in Islamabad on Sunday, Prime Minister Shehbaz Sharif emphasized that the current reforms in the electrical sector would allow the government to provide relief to electricity prices.
He directed officials to dissipate erroneous concepts on the government’s solarization policy through objective communication, which reaffirms that the promotion of renewable energy remains a priority.
In addition, the prime minister requested an accelerated privatization process for energy distribution companies and urged the resolution of legal and administrative obstacles that affect the liquidation of the generating companies.
PM also instructed the improved coordination between the energy division, the division of water resources and the oil division to formulate a unified strategy of the energy sector.
Previously, it was reported that Prime Minister Shehbaz Sharif officially announced a reduction in electricity rates per RS8 per unit on March 23, after the approval of the International Monetary Fund (IMF).
According to the sources, the Ministry of Finance and the Energy Division had explored additional measures for lower electricity rates in RS2 per unit. A final decision had been made before the official announcement.
The reduction was expected, which will enter into force as of April 1, 2025, will be reflected in consumer invoices as of May. From the decrease of RS8 per unit, RS4.73 per unit had been designated as a permanent adjustment.
