PM Shehbaz announces a Rs7.41 per unit reduction in power rate for household users.

SLAMABAD (A News)- On Thursday, Prime Minister Shehbaz Sharif announced a Rs7.41 per unit drop in energy tariffs for home users and Rs7.59 for industrial consumers.

Addressing a “special” assembly of MPs, cabinet ministers, and high-ranking officials here, the prime minister noted that the price of power for domestic customers in June 2024 was Rs48.70 per unit, but it is currently Rs45.05.

“Today, the tariff is being reduced by an additional Rs7.41 per unit, bringing it to to Rs34.37 per unit for domestic consumers,” according to him.

He stated that the rate for industries was Rs58.50 per unit, which has now been cut to Rs48.19, representing an additional savings of Rs7.59 per unit. The pricing for industrial users has been set at Rs40.60 per unit.

Previously, Prime Minister Shehbaz declared that he had come to offer good news about power costs as a consequence of economic progress and stability.

He stated that the administration fought valiantly to stabilize the economy and avert the country’s impending insolvency.

Macroeconomic indicators have improved, and he “is aware that expensive electricity has impacted the public.”

He remarked that increasing power costs have had an impact on economic activity.

“Inflation has now dropped to single digits. Petroleum product prices have fallen by Rs38 per liter over the past year. Petroleum prices are the lowest in the whole area. The policy rate has now been cut to 12 percent. Privatization and rightsizing are critical components of economic changes.