Prime Minister Shehbaz Sharif has announced that the government will soon introduce a comprehensive package to lower consumers’ to cut electricity costs.
Chairing a meeting on the Power Division in Islamabad, he stressed that ongoing energy sector reforms would help relieve electricity prices. He directed officials to counter misinformation about the solarisation policy and reaffirmed the government’s commitment to promoting renewable energy. He also emphasised the need for clear public communication regarding energy policies.
The prime minister instructed authorities to accelerate the privatisation of power distribution companies to enhance efficiency and address financial losses. He also ordered the resolution of legal and administrative issues delaying the liquidation of generation companies. Additionally, he called for better coordination between the Power, Water Resources, and Petroleum Divisions to create a unified energy strategy that ensures long-term stability.
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Earlier, reports indicated that PM Shehbaz planned to announce an Rs8 per unit reduction in electricity tariffs on 23 March after securing approval from the International Monetary Fund (IMF). Sources revealed that the Ministry of Finance and the Power Division had considered additional measures to lower rates by Rs2 per unit. A final decision was reached before the announcement.
The reduced rates will take effect from 1 April 2025, with consumers seeing the revised tariffs in their May electricity bills. Of the Rs8 per unit decrease, Rs4.73 per unit will be a permanent adjustment.
The government remains focused on easing the burden of high energy costs while implementing critical reforms. By addressing inefficiencies, promoting renewable energy, and improving policy coordination, it aims to stabilise electricity prices and ensure an affordable power supply for the public.
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