Electricity Relief: Govt. Cuts Tariff by Rs7.41 Per Unit

Islamabad – Prime Minister Shehbaz Sharif, during a ceremony announcing a reduction in electricity prices, acknowledged the significant support of the Army Chief in Pakistan’s journey toward economic stability.

The Prime Minister expressed his gratitude to all those present, stating that despite the holiday season, he was honored to represent the entire nation. He also shared good news regarding Pakistan’s economic progress and stability, marking the occasion as an opportunity to announce the reduction in electricity prices as part of Pakistan’s ongoing efforts to stabilize its economy.

Prime Minister Shehbaz Sharif recalled the promises made by the leadership of the Pakistan Muslim League (PML-N), specifically referring to party leader Nawaz Sharif’s pledge to steer the nation toward economic growth and stability if given the opportunity.

Reflecting on Pakistan’s economic challenges, the Prime Minister described the tough journey the country had faced. He explained that when the current government took office, the nation was on the brink of default, with a looming risk of financial collapse. Business owners and citizens alike were fearful of the future, as instability soared and negotiations with the IMF seemed increasingly difficult.

The Prime Minister pointed out that some groups, who had previously broken their agreements with the IMF, hoped to push Pakistan toward default. These elements created significant obstacles in efforts to rescue the nation’s economy. However, through relentless efforts and unwavering commitment, the government successfully averted Pakistan’s financial collapse.

Prime Minister Sharif credited the collective efforts of his leadership, his team, and the Army Chief for helping stabilize Pakistan’s economy. He emphasized that despite the challenges, Pakistan had emerged from a period of deep economic darkness into a phase of stability.

The Prime Minister acknowledged the sacrifices made by the people, particularly during times of high inflation. He recalled how ordinary citizens, especially pensioners, struggled to pay their utility bills while also managing basic needs like healthcare. Business owners, too, were facing hardships as customer demand plummeted. He urged that these sacrifices should never be forgotten.

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As a token of appreciation for the public’s resilience, Prime Minister Sharif announced a major relief: electricity prices would be reduced by PKR 7.41 per unit for domestic consumers, effective immediately. For industrial users, the price of electricity would drop by PKR 7.59 per unit. This reduction brings the current price for domestic electricity from PKR 48.70 per unit to PKR 45.05, and for industrial consumers from PKR 58.50 to PKR 48.19 per unit.

Additionally, the Prime Minister highlighted that inflation had now dropped to single-digit levels, with the price of petrol also reduced by 38 PKR per liter. He remarked that despite global challenges, petrol prices in Pakistan remain among the lowest in the region.

The Prime Minister concluded by stating that the economic journey is far from over and that efforts to combat poverty and sustain the nation’s economic recovery would continue.