ISLAMABAD: As the country suffers from high inflation, Prime Minister Shehbaz Sharif said that he would soon share “good news” about reducing exorbitant power bills.
“Today, there is inflation. People are worried about electricity bills and other problems. However, while not everything is perfect in the country, not everything is bad,” PM Shehbaz said during an Independence Day event in Islamabad.
PM Shehbaz said that Pakistan’s industries cannot succeed and exports cannot increase without lowering electricity bills, Shehbaz also said that he will speak to the nation in a few days to share a five-year economic plan.
His comments are in response to public anger over high bills, as the government keeps raising prices to pay off power debt and follow the rules set by the International Monetary Fund (IMF).
A day earlier, PM Shehbaz stated that the government was focused on providing low-cost electricity, calling it “inevitable” to steer the country out of the current crisis.
“Our primary focus is to reduce power prices to provide relief to domestic consumers, agriculture, industry, exports, and business sectors. This is essential to steer the economy out of its current issues.”
“The competitiveness of exports is tied to affordable electricity,” Shehbaz said.
Additionally, media reported that the government was planning to rationalize power tariffs through various proposals, including reducing the allocation of the development budget at both federal and provincial levels.
It was disclosed that the government is also working on shutting down domestic independent power producers (IPPs) in both the public and private sectors.
However, the IMF has not yet given its approval for the power rationalization plan, according to sources.
Prime Minister also highlighted low-cost electricity and an efficient power transmission system as key factors for a stable economy.
