ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Friday announced to reduce electricity tariff by Rs 10.69 per unit for the industrial sector of the country.
The announcement signals a significant step towards improving the competitiveness of Pakistani industries in the global market.
Under the Prime Minister’s power package, PM Shehbaz declared a reduction of Rs 10.69 per unit of electricity for the industrial sector across the nation. This move will alleviate the financial burden on industries, with the revised electricity price for the industry and export sector now fixed at Rs 34.99 per unit.
According to a statement issued by the Prime Minister’s office, this decision will alleviate a financial burden of over Rs 200 billion from the industrial sector. The package is designed to enhance the competitiveness of Pakistani goods in the international market by reducing production costs for industrial and agricultural products, consequently boosting exports.
The Prime Minister’s announcement comes amidst efforts to stimulate economic growth and create a conducive environment for industrial development in Pakistan. By reducing electricity tariffs, the government aims to encourage investment, foster innovation, and enhance the productivity of the industrial sector.
However, this move follows a recent increase in electricity tariffs approved by the National Electric Power Regulatory Authority (NEPRA) on June 6. The tariff hike, amounting to Rs 3.3 per unit, applies to consumers of power distribution companies (DISCOs) excluding K-Electric. The increase, attributed to fuel charges adjustment (FCA), will result in higher electricity bills for consumers in June, excluding Electric Vehicle Charging Stations (EVCS) and lifeline consumers.
