PM Shehbaz announces Rs7.41 per unit electricity price cut

Islamabad: Prime Minister Shehbaz Sharif has announced a reduction of Rs7.41 per unit in electricity prices.

While addressing a ceremony regarding the government's electricity price reduction package, Prime Minister Shehbaz Sharif congratulated the participants and the nation on Eid and said, "On this Eid occasion, I have come to share a small piece of good news for Pakistan's economic development and stability."

The ceremony was attended by Deputy Prime Minister Ishaq Dar, federal ministers Owais Leghari, Mohammad Aurangzeb, Rana Sanaullah, Khawaja Asif, Azam Nazir Tarar, Ahsan Iqbal, Attaullah Tarar, Rana Tanveer Hussain, Hanif Abbasi, Shaza Fatima, Mustafa Kamal, and other government officials.

PLML-N leader Khawaja Saad Rafique, business community members, and parliamentarians also participated in the ceremony.

During his speech, Prime Minister Shehbaz Sharif thanked Allah for fulfilling the promise made by Mian Nawaz Sharif. He recalled that in their manifesto, they had said that if given the opportunity, the economy would gradually improve, and electricity prices would be reduced. He mentioned that they are continuing the success story in the economic field, but looking at the past is also important.

He said, "We have worked hard to face challenges on a risky path. When we took charge, the economy was weak, and the country was at risk of default, but we faced it head-on. Believe me, the IMF was not ready to listen to us. Those who had pushed Pakistan to the brink of default were celebrating, and the disruptive elements were sure that the country would go bankrupt. This group crossed all limits to harm the national interests."

He added, "These elements created significant obstacles in the path of economic stability, prioritizing personal interests and politics, playing with the state. They even tried to create hurdles in the IMF program. By the grace of Allah, our efforts bore fruit, and the country was saved from default."

Shehbaz Sharif said, "The time has come to fulfill the promises made in our manifesto. Alhamdulillah, the economy is now fundamentally stable. We have had full cooperation from the Army Chief in ensuring economic stability, and macroeconomic indicators have improved. We recognize that high electricity prices have affected the public, and these expensive electricity rates have also impacted economic activities."