Electricity prices for residential users cut by over Rs7

April 03, 2025 (MLN): Electricity prices for residential users in Pakistan have been reduced by Rs7.41, bringing the rate down to Rs34.37 per unit, while prices for industrial users have decreased by Rs7.59, now standing at Rs40.6 per unit.

This announcement was made by Prime Minister Shehbaz Sharif during a ceremony in Islamabad, attended by Deputy Prime Minister Ishaq Dar, federal ministers, and key officials.

In June, the rates for both groups were Rs48.70 and Rs58.50 per unit, respectively, according to the press release issued today.

At the start, the PM extended Eid greetings to the nation, saying he had come to give good news about economic growth on the occasion of Eid. He outlined the government's struggles in stabilizing the economy. 

"When we took over, Pakistan was on the verge of default. Businessmen and the public were uncertain, and the IMF was not willing to cooperate”, he said.

Opening letters of credit (LCs) was a challenge, industries were shutting down due to a lack of funds, and economic instability was at its peak," he stated.

The prime minister credited PML-N leader Nawaz Sharif for outlining a roadmap towards economic recovery and emphasized the role of army chief Gen Asim Munir and other stakeholders in stabilizing the country’s financial situation.

PM Shehbaz shared key economic indicators, stating that the country's inflation rate has dropped from 38% to 1.5%, and petrol prices have been reduced by Rs38 per liter in a year.

Additionally, he noted that Pakistan's interest rate has decreased from 22.5% to 12%, and inflation is expected to reach single digits by 2026, according to the party's manifesto.

Furthermore, the government has introduced the Ease of Doing Business Act to attract investments.

"Right and tough decisions are necessary for Pakistan’s economic prosperity. Privatization and right-sizing are part of this journey, and we will not be able to develop without eliminating wasteful subsidies," the PM added.

Federal Minister Awais Leghari praised PM Shehbaz's efforts in reforming the power sector, stating that the prime minister personally supervised energy sector improvements.

"A special task force was established under PM Shehbaz’s leadership, comprising energy experts who played a crucial role in implementing reforms," he stated.

He added that PM Sharif tirelessly worked for the country's progress and did not show favouritism in decision-making.

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