PM Shahbaz announces major electricity tariff cut for industries

Prime Minister Shehbaz Sharif announced a significant reduction in electricity tariffs for Pakistan's industrial sector, aiming to support the country's economic growth and competitiveness. According to RNN News, the new tariff under the Prime Minister's power package will see a reduction of Rs 10.69 per unit, bringing the cost down to Rs 34.99 per unit for the industrial and export sectors.

This initiative is designed to alleviate the financial burden on industries, estimated at over Rs 200 billion. The reduction in electricity costs is expected to lower the production costs of industrial and agricultural products, thereby enhancing the competitiveness of Pakistani goods in the global market and boosting exports.

This move follows a recent decision by the National Electric Power Regulatory Authority (NEPRA) on June 6 to increase the power tariff by Rs 3.3 per unit for consumers of power distribution companies (DISCOs), excluding K-electric. This tariff hike, attributed to fuel charges adjustment (FCA), applies to all consumer categories except Electric Vehicle Charging Stations (EVCS) and lifeline consumers. Consequently, consumers are expected to face higher electricity bills in June.