ISLAMABAD – Prime Minister Shehbaz Sharif is expected to announce a significant decrease in electricity prices on the eve of the Pakistan Day, which is marked on March 23.
Reports said the government has completed its working in this regard, adding that the International Monetary Fund (IMF) has granted approval for it.
The federal government is expected to cut the electricity prices by Rs8 per unit. The relief will come into effect from April 2025 while public will avail it in bill to be received in May 2025.
The upcoming reduction is possible after the government managed to end contracts with six independent power producers, revised agreements with 16 other IPPs and fixing the dollar rate to Rs168.
Furthermore, the recent decision of not revising down the petroleum prices for second half of March 2025 helped the government save Rs168 billion.
The amount will help the government reduce the electricity prices by Rs1.30 per unit. Reports said IMF had allowed Pakistani government to extend relief of Rs250 billion to be saved in three months by not changing the petroleum prices.
On March 15, In a surprising move, the Pakistani government decided to keep prices of Petrol, and Diesel remain unchanged amid rumors that a significant price cut was on the cards for second half of March 2025.
On March 15, Finance Division shared a notification as prices of petrol remains at Rs 255.63, diesel at Rs 258.64, kerosene at Rs 168.12, and light diesel at Rs 153.
