Prime Minister Shehbaz Sharif has reaffirmed its commitment to reduce electricity rates for national consumers and industries through reforms in the electricity sector.
By chairing a high level meeting on the implementation of reforms of the energy sector, it ordered officials to complete all planned reforms and initiatives within the stipulated period.
During the meeting in Islamabad, information on the three -year objectives for the reforms of the electricity sector was provided. The officials reported that due to the current reforms and an anti -theft campaign, the recovery rate of the distribution companies had improved 93.26% in December 2024.
Prime Minister Shehbaz highlighted the positive results of the reforms, stating that the inefficiencies of decades in the electricity sector were addressed through coordinated efforts between the ministry and the relevant institutions.
He stressed that the government is still committed to providing low -cost and environmental friendly electricity to the public, and added that renegotiating agreements with independent energy producers (IPP) have resulted in financial savings for the national treasure and a reduction in a reduction in Electricity prices.
He praised the campaign to theft against power, pointing out that the reduction of losses suffered by distribution companies was a significant achievement and a testimony of the dedication of the Ministry of Energy and Support Agencies.
He directed that repression against power theft intensified to achieve a 100% reduction in losses in all distribution companies.
The Prime Minister declared that the appointment of private sector professionals of good reputation for the boards of distribution companies was producing positive results. He instructed that similar quotes were made in companies where the joints were not yet formed.
In addition, he stressed that the reduction in transmission losses was a direct result of the current reforms and reiterated his commitment to further reduce tariffs for homes and industries.
The meeting also included complete information on the performance of the electricity sector, describing strategies for the gradual reduction of circular debt, the establishment of competitive electricity markets and the road map for rates reductions.
Progress was also reviewed in the main transmission line projects, including the 500 kV Matari-Moro-Rahim Yar Khan and Ghazi Brotha-Fafaisalab transmission lines.
The officials provided updates on the dissolution of the National Transmission Company and Dispatch (NTDC) and the establishment of a new entity, the Energy Infrastructure Development and Management Company (EIDMC).
Prime Minister Shehbaz instructed the authorities to ensure timely completion of all reforms and projects to improve efficiency and sustainability in the electrical sector.
