Prime Minister Shehbaz Sharif has announced that a complete package will soon be introduced to reduce electricity costs for the public.
Sunday, presiding over a meeting on the Division of Power in Islamabad, Prime Minister Shehbaz Sharif stressed that the current reforms in the electricity sector would allow the government to relieve electricity prices.
He ordered civil servants to dispel false ideas on the policy of solarization of the government by factual communication, reaffirming that the promotion of renewable energies remains a priority.
In addition, the Prime Minister called for an accelerated privatization process for electricity distribution companies and urged the resolution of legal and administrative obstacles affecting the liquidation of generation companies.
The PM also requested increased coordination between the power division, the water resources division and the oil division to formulate a unified strategy of the energy sector.
Earlier, it was reported that Prime Minister Shehbaz Sharif should officially announce a reduction in electricity prices per RS8 per unit on March 23, following the approval of the International Monetary Fund (IMF).
According to sources, the Ministry of Finance and the Division of Energy have explored additional measures to reduce the reduced RS2 electricity rates per unit. A final decision had been made before the official announcement.
The reduction, which should take effect from April 1, 2025, should be reflected in consumption bills from May. On the decrease of RS8 per unit, RS4.73 per unit had been appointed as permanent adjustment.
