Business
IMF agreement forced us to increase electricity prices: PM Shehbaz
PM Shehbaz Sharif strictly stated that he won’t let the public suffer from increased rates.
Lahore: Prime Minister Shehbaz Sharif stated that the recent increase in electricity prices was a necessity under the IMF agreement.
Addressing the signing ceremony of a gas deal between Pakistan and Azerbaijan, the Prime Minister explained that the government was bound by the conditions of the IMF agreement to raise electricity rates.
However, he firmly emphasized that he would not allow the burden of this increase to fall on the public.
He assured that 63% of domestic consumers will not be affected by the hike, and those using up to 200 units of electricity will also be exempt from any additional burden.
Furthermore, partial subsidies have been provided to 31% of domestic consumers.
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