Pakistan’s government is poised to lower electricity prices as Prime Minister Shehbaz Sharif prepares to meet top business leaders on Thursday.
Sources indicate that the Prime Minister’s meeting with the business community at the Prime Minister’s Secretariat will concentrate on power sector reforms and economic growth. PM Sharif aims to establish trust with the delegation, led by former caretaker minister Gohar Ejaz.
The discussions will focus on export strategies and other important economic topics. The International Monetary Fund (IMF) has announced a tariff reduction of Rs1 per kilowatt-hour for all consumers. This decrease, funded by a levy on gas-powered captive plants, offers relief to both households and businesses.
IMF Backs Price Reduction
The IMF’s approval has paved the way for this move. Finance Minister Muhammad Aurangzeb recently confirmed the government’s plan to slash electricity costs. In a recent foreign media interview, he credited PM Sharif for spearheading the effort. “An official announcement is coming soon,” Aurangzeb promised.
Read: Pakistan to Slash Electricity Tariff by Rs8 Per Unit
Beyond power prices, the government is broadening its tax base. Sectors like real estate, retail, and agriculture will contribute more, easing fiscal pressures. These reforms aim to stabilize Pakistan’s economy in the long run.
With Shehbaz Sharif at the helm, this meeting could mark a turning point. Lower electricity costs and stronger business ties might boost exports and economic confidence. Stay tuned for updates as the plan unfolds.
