PM Shahbaz announces major electricity tariff cut for industries

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced to reduce electricity tariff by Rs 10.69 per unit of electricity for the industrial sector, ARY News reported.

PM Shehbaz announced the reduction in electricity prices under Prime Minister’s power package for the improvement of the country’s industrial sector.

After the reduction, the price of electricity for the industry and export sector has been fixed at Rs 34.99 per unit.

According to a statement issued by the prime minister office, the burden of more than Rs 200 billion will be removed from the industries. The package has been introduced to make the cost of goods competitive in the global market.

This package will reduce the cost of production of industrial and agricultural products and significantly increase exports.

Earlier on June 6, the National Electric Power Regulatory Authority (NEPRA) approved an increase of Rs3.3 per unit in the power tariff for the consumers of power distribution companies (DISCOs) except K-electric.

According to NEPRA, the tariff hike on account of fuel charges adjustment (FCA) shall be applicable to all the consumer categories except Electric Vehicle Charging Stations (EVCS) and lifeline consumers.

As a result of the latest hike in electricity prices, consumers will face higher electricity bills in June.