ISLAMABAD: The federal government is preparing a plan to offer energy-saving fans to electricity consumers through affordable installment payments in Pakistan, according to a TV channel report.
The plan is likely to be included in the upcoming annual budget, the report stated.The prime minister has given approval for the energy-saving fans installment plan, as per the report.
The initiative aims to reduce energy consumption, and under this plan, consumers can purchase energy-saving fans with support from banks, sources said.
Consumers will be able to pay for the fans in small amounts added to their electricity bills, according to the sources.
TV channel sources also mentioned that replacing regular fans with inverter fans could save approximately 5,000 megawatts of electricity.
The government is considering offering these energy-saving fans without interest, but this aspect is still under discussion, sources noted.
The International Monetary Fund (IMF) will be consulted regarding the plan to provide these fans through interest-free loans with easy installment options. The plan is expected to help lower electricity bills for consumers.
Earlier, Prime Minister Shehbaz Sharif announced a reduction of Rs7.41 per unit in electricity rates across Pakistan to ease the burden on citizens dealing with high electricity bills.
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Speaking at an event in Islamabad, the prime minister congratulated the nation and noted that convincing the International Monetary Fund (IMF) for the reduction was challenging. He said his team worked hard to make it happen.
For industries, he announced a slightly larger reduction of Rs7.69 per unit in electricity prices.
The prime minister stressed the need for structural changes in the power sector, focusing on addressing electricity theft, which amounts to Rs600 billion annually.
He mentioned that efforts to stop these malpractices have already begun, but more needs to be done. “If one shopkeeper pays their electricity bill honestly and the one next to them does not, it creates unfair competition,” he said.
The prime minister explained that the government plans to tackle the Rs600 billion annual power theft and introduce an open market system to further lower electricity rates.
He also stated that privatizing or commercializing power distribution companies (DISCOs) is necessary to reduce the financial burden caused by line losses and theft.
“I have instructed the concerned team to work quickly to implement these reforms,” he said.
The prime minister praised the task force formed to finalize power sector reforms, saying they worked diligently and presented various options to convince the IMF to agree to the tariff reduction.
