Electricity Price Cut in Pakistan: Prime Minister Shehbaz Sharif announced a reduction in electricity prices for domestic consumers by Rs7.41 per unit. This price cut aims to provide financial relief to Pakistanis while boosting economic stability. The announcement was made during a special event attended by cabinet members and business leaders. The government had earlier requested the National Electric Power Regulatory Authority (NEPRA) to lower electricity rates.

Industrial Sector Benefits Too

Electricity Price Cut in Pakistan: Alongside the reduction for households, the government also slashed electricity rates for industrial units by Rs7.59 per unit. Addressing the event, PM Shehbaz stressed that economic progress depends on lower power tariffs. He praised his administration’s efforts, calling the reduction a major achievement.

Electricity Price Cut in Pakistan: Industrial Sector Benefits Too

The Prime Minister detailed revised agreements with Independent Power Producers (IPPs). These changes have saved Rs3,696 billion for the national exchequer. “This amount was originally meant for IPPs,” he stated. Additionally, he assured that arrangements were in place to address circular debt, aiming to eliminate it within five years.

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Electricity Price Cut in Pakistan:Breakdown of the Price Cut

Shehbaz Sharif explained that the per-unit electricity rate, which was Rs58.35 in June 2024, has now dropped to Rs48.19. This marks a total reduction of Rs10.3 per unit. He expressed confidence that these cuts would benefit the public and ease their financial burden.

Addressing Electricity Theft

PM Shehbaz highlighted that electricity theft causes losses of approximately Rs600 billion annually. He emphasized that these losses unfairly impact vulnerable groups like the needy, widows, and orphans. He called for stricter measures to prevent electricity theft and ensure fair distribution of costs.

The government’s decision to reduce electricity prices brings much-needed relief to households and industries. These reforms aim to stabilize the economy while reducing financial burdens on consumers. Additionally, tackling electricity theft will help protect vulnerable citizens from unfair costs. The implementation of these changes will play a crucial role in ensuring long-term economic progress.

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