PM Shehbaz Sharif pledges relief in electricity prices

Prime Minister Shehbaz Sharif announced on Saturday that a relief package for electricity prices will be introduced soon.

In his statement, he emphasized that the government has decided to pass on the financial benefits of fluctuations in global oil prices to electricity consumers. He assured that the upcoming power tariff relief would help curb inflation.

The Prime Minister stated that the package is in the final stages of preparation and will be unveiled in the coming weeks. He reaffirmed his commitment to prioritizing public relief, ensuring that savings from changes in oil prices directly benefit electricity consumers.

Meanwhile, the Central Power Purchasing Agency (CPPA) has submitted a request for a monthly fuel price adjustment for February. According to CPPA data, electricity production in February was 6.49 billion units, with 6.66 billion units supplied to power companies. The per-unit cost of electricity stood at Rs 8.22, compared to the reference cost of Rs 8.52 per unit.

The National Electric Power Regulatory Authority (NEPRA) is set to review the CPPA’s request on March 26. If approved, consumers could see a reduction of up to 30 paisas per unit in their electricity bills.

Additionally, PM Shehbaz Sharif confirmed that petroleum prices will remain unchanged for the next fortnight.