No power tariff increase for energy consumers up to 200 units: PM

• PM expressed his satisfaction with the strong ties between Pakistan and Azerbaijan.
• PM witnessed the signing of a framework agreement between SOCAR and PLL.
• Ambassador of Azerbaijan shared coming to Pakistan to share their knowledge and experience.

Prime Minister Shehbaz Sharif announced that there would be no increase in power tariff for 63% of domestic consumers who use up to 200 units of electricity per month.

Additionally, a partial subsidy would be provided to consumers using up to 300 units per month, constituting approximately 31% of total domestic consumers.

He acknowledged the challenging conditions imposed by the International Monetary Fund (IMF), which led to the need for higher electricity prices but emphasized that the burden should not be passed on to the vulnerable segments of society.

The PM witnessed the signing of a framework agreement between State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan LNG Limited (PLL). This agreement allows SOCAR Trading to supply LNG to Pakistan in one cargo per month with flexible terms and a 30-day credit line for payment, under a one-year contract extendable for another year.

Shehbaz Sharif expressed his satisfaction with the strong ties between Pakistan and Azerbaijan, expressing gratitude to President Ilham Aliyev for his cooperation.

He highlighted the efforts to promote economic relations, including granting approval for Azerbaijan Airlines to land in major Pakistani cities, aiming to boost tourism and investment between the two countries.

The premier thanked various government officials and representatives for their contributions to concluding the framework agreement.

The Ambassador of Azerbaijan in Islamabad also praised the agreement, stating that it would strengthen bilateral economic relations.

Furthermore, he mentioned upcoming cooperation in the horticulture sector, with a team of experts from Azerbaijan coming to Pakistan to share their knowledge and experience.