In a decisive move, Prime Minister Shehbaz Sharif has opted to maintain the current prices of petroleum products for the upcoming two weeks, channeling the potential relief from a dip in international petrol prices into a significant cut in electricity tariffs for the public.
This strategic decision underscores the federal government’s objective to keep petroleum prices steady while ensuring the populace enjoys the full economic advantage through reductions in their electricity bills, a statement from the Prime Minister’s Office revealed on Saturday.
The move will be one of many steps taken by the government to achieve a meaningful reduction in the electricity rates, the premier said.
A package is being prepared under a comprehensive and effective strategy to slash power prices, PM Shehbaz said, adding that the details of the relief measure for the public are being finalised by utilising the financial space created due to fluctuations in global oil prices.
The statement added that the power tariff reduction package would be unveiled in the coming weeks.
The premier said his administration remains committed to prioritising public relief since coming into power.
He expressed his aim to provide further relief for the masses alongside the power tariff reduction.
“The relief will not only reduce electricity prices but will also have a broader impact on inflation, leading to a further decrease,” said the premier.
The PM will address the nation to announce the major relief measure.