PM announces Rs7.41 per unit cut in household electricity prices

On Thursday the Prime Minister Shehbaz Sharif made a decision to bring down energy rates by Rs7.41 per unit for household users and Rs7.59 per unit for industrial sector clients.

The Prime Minister announced the power price reduction at an important event involving his cabinet ministers and business executives after making an official application to NEPRA. PM Shehbaz sees lowering power tariffs as the key to building Pakistan’s future success and calls this achievement a major milestone.

Key Reforms and Savings

Agreements adjusted with IPP owners saved Pakistan Rs3,696 billion that the government needed to pay to independent power producers under original terms.

The per-unit electricity rate of Rs58.35 decreased by Rs10.3 to reach Rs48.19 as of June 2024.

The government planned to end circular debt through systemic updates during a five-year timeframe.

Crackdown on Electricity Theft

The PM explained how the Rs600 billion electricity theft losses each year primarily affect poor families as well as widows and orphans. He wanted officials to intensify efforts at stopping power theft throughout the nation.

Our goal is to help people face difficulties and rebuild the economy as stated by PM Shehbaz while promising more reforms to balance energy prices.