Prime Minister Shehbaz Sharif is set to unveil significant power sector reforms today, with expectations of a reduction in electricity prices following approval from the International Monetary Fund (IMF). Sources indicate that the premier will reveal details on renegotiated agreements with Independent Power Producers (IPPs) and other crucial measures aimed at lowering costs.
The government has proposed reducing electricity tariffs by Rs6 to Rs8 per unit, though the final decision rests with the prime minister. A high-level meeting on the power sector, chaired by Shehbaz Sharif, will take place at 2 PM, attended by senior ministers and key officials. Additionally, the Ministry of Information and Broadcasting hinted that the prime minister will address the nation tomorrow with a “big decision,” promising significant relief for the public.
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The push for lower power tariffs comes amid growing public pressure over high electricity costs. Previous attempts to announce tariff cuts faced hurdles, with the IMF initially approving only a Re1 per unit reduction. However, the government has explored alternative measures, including increasing the petroleum levy to fund greater tariff relief.
The National Electric Power Regulatory Authority (NEPRA) is set to review the government’s request for reduced electricity prices on April 4, with proposed changes potentially taking effect from April to June 2025. The prime minister’s expected announcement today could set the stage for much-needed economic relief for millions of consumers.
