Prime Minister Shehbaz Sharif said on Monday that efforts are being made to further reduce electricity prices, prioritizing relief in energy rates on gasoline despite a continuous fall in world oil prices, said Express News.
Speaking at a high level meeting in Islamabad, Prime Minister Shehbaz said that the Government aims to provide national benefits through cheaper electricity and undertakes to deliver additional cuts in the coming months.
“The efforts are ongoing to further reduce electricity prices. As oil prices fall into the global market, we will once again focus on reducing electricity rates instead of gasoline,” he said. The prime minister emphasized that a reduction in the cost of electricity per unit would positively affect all sectors of the economy.
“A cut in electricity prices will benefit the nation in all fields. We are fighting to get more reductions and hope to see even better results in the coming months,” he added.
Prime Minister Shehbaz also said that several initiatives have been introduced to raise the maritime sector, which he described as a key to national economic development. “The titular government introduced the number of reforms for the elevation of the maritime sector,” he said, according to an official statement.
He praised the maritime working group for his role in the preparation of policy recommendations, calling their “hard work” efforts and emphasizing that access to maritime resources is essential for global development.
In the broader economic front, the prime minister said that his administration is working sincerely to transfer the benefits of reducing global oil prices to the Pakistani public.
He pointed out that a recent drop in electricity prices would provide “substantial relief to people” and would help boost economic activity.
“We have achieved macroeconomic stability and the decrease in power tariffs will lead the economy towards growth and competitiveness,” he added.
