Islamabad: Prime Minister Shehbaz Sharif introduced a three-month electricity relief package on November 8, 2024 aiming to alleviate financial pressures on households and businesses in Pakistan. This package, effective from December through February, offers significant reductions in electricity rates, providing much-needed relief to citizens and industries in the economically struggling country.
The package grants domestic consumers a discount of up to Rs 26.7 per unit for electricity usage exceeding 200 units within the protected category. Industrial users will benefit from reductions between Rs 5.27 and Rs 15.5 per unit, amounting to 18-37 percent savings. Meanwhile, commercial consumers are set to save Rs 13.46 to Rs 22.71 per unit, equivalent to a 34-47 percent reduction.
Pakistan PM Focuses On Resilience And Sustainable Growth
Reportedly, PM Shehbaz Sharif highlighted that the initiative is designed to stimulate economic activity by boosting agricultural productivity, industrial output, business operations, and exports. He noted that the relief package is a vital component of the government’s broader economic recovery strategy, with a focus on resilience and sustainable growth.
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The Prime Minister also expressed gratitude to the International Monetary Fund (IMF) for authorizing this relief initiative. He shared recent economic highlights, including record foreign remittances of USD 8 billion in the fiscal year’s first quarter and a reduction in inflation to 6.7 percent.
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