Prime Minister Shehbaz Sharif announced on Tuesday that the government will not increase electricity rates for protected customers who consume up to 200 units of power for the next three months.
“The household consumers who consume up to 200 units of electricity will get a subsidy for three months — July, August, and September,” Prime Minister Shehbaz Sharif declared during an event in Islamabad.
This decision follows significant public outcry over the government’s recent move to significantly raise electricity tariffs, a step reportedly necessary to secure a loan from the International Monetary Fund (IMF).
Facing severe criticism for imposing financial burdens on the salaried class through the new budget, Prime Minister Sharif explained that the subsidy would cost the national exchequer Rs50 billion.
“These households make up 94% of the electricity consumers. This subsidy will be funded through our budget’s development fund,” he said, emphasizing that the previous Pakistan Tehreek-e-Insaf (PTI) government had reduced power prices without budget allocations.
Under the new subsidy package, the cost of electricity per unit will be reduced to Rs4 to Rs5. Consumers of K-Electric will also benefit from this relief.
“This decision has been taken to provide relief to the common man amidst rising electricity prices,” Sharif added. “These three summer months are the hardest to cope with, and from October onwards, as the weather gets pleasant, electricity consumption typically decreases.”
The Prime Minister affirmed that the coalition government would work together to overcome current challenges, underscoring that the key to resolving economic difficulties lies in addressing corruption.
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