LAHORE: Pakistan’s Prime Minister Shehbaz Sharif assured the public on Monday that the recent increase in power tariffs would not impact consumers using up to 200 units per month.
The Prime Minister made this statement during a ceremony in Lahore, where Pakistan LNG Limited and Azeri company Socar signed a framework agreement for liquefied natural gas (LNG) supply to Pakistan.
Last week, the federal cabinet had approved a request from the power regulator to increase the national average power tariff, resulting in some residential consumers paying up to Rs7.50 more per unit. The decision, conveyed to the National Electric Power Regulatory Authority (NEPRA), was scheduled for implementation following a public hearing.
Addressing concerns over the tariff increase, PM Shehbaz Sharif emphasized that while it was a condition of the International Monetary Fund (IMF) agreement, his government was committed to safeguarding the interests of low-income and vulnerable consumers. As a result, no tariff hike will be imposed on those consuming up to 200 units, which accounts for 63% of domestic consumers. Additionally, partial subsidies will be granted to consumers using up to 300 units per month, comprising 31% of total domestic consumers.
براہِ راست – لاہور: وزیرِ اعظم شہباز شریف کی پاکستان اور آذربائیجان کے مابین پیٹرولیم کی صنعت میں تعاون کے معاہدے پر دستخط کی تقریب میں بطور مہمانِ خصوصی شرکت https://t.co/AUKWcqTMUA
— Government of Pakistan (@GovtofPakistan) July 24, 2023
PM Shehbaz Lauds Pakistan-Azerbaijan Agreement
Regarding the LNG agreement with Socar, the Prime Minister described it as a milestone in strengthening economic ties between Pakistan and Azerbaijan. Under the one-year agreement, extendable for an additional year, Socar will offer Pakistan one LNG cargo per month on flexible terms and provide a 30-day credit line after delivery.
PM Shehbaz expressed his gratitude to Azerbaijan President Ilham Aliyev for his warm reception during a recent visit. In a bid to further promote tourism, investment, and diplomatic exchanges between the two countries, Pakistan has approved landing rights for Azeri airlines in Islamabad, Lahore, and Karachi.
