Federal Minister for Energy Owais Leghari announced that the government would further reduce electricity prices before the upcoming summer, with special reductions planned for charging stations for motorcycles and rickshaws.
Speaking at a press conference in Islamabad, Owais Leghari stated that if the PTI government’s policies had continued, the public would have faced higher electricity prices for the next 10 years. He emphasized the government’s commitment to resolving power sector issues within the next four years.
He added that the aim is to make Pakistan the country with the cheapest electricity in the region. The government is reviewing NEPRA’s tariffs and past decisions to improve the regulatory mechanism of the power sector.
The minister accused former Prime Minister Imran Khan of shielding IPPs from forensic audits, alleging corruption in the process.
Owais Leghari highlighted that over the past five to six months, electricity prices have been reduced, transmission system flaws have been addressed, and circular debt growth has been successfully curtailed. Overbilling is also being reduced and will soon be eliminated entirely.
He announced the introduction of an independent electricity procurement system, the elimination of Rs. 150 billion in cross-subsidies, and the delegation of electricity purchasing and selling responsibilities to private companies.
For the industrial sector, electricity rates have been reduced from Rs. 58.17 to Rs. 47, while rates for domestic consumers have also been significantly decreased.
He further stated that negotiations with 16 IPPs are underway, which have already resulted in savings of Rs. 638 billion, expected to reach Rs. 1 trillion. Talks with Chinese IPPs have also commenced, and all savings will directly benefit the public.
