Big relief: electricity prices expected to reduce

The Pakistani government is expected to lower electricity prices as Prime Minister Shehbaz Sharif prepares to meet with top business leaders. According to sources, PM Shehbaz will hold discussions with prominent businessmen on Thursday to brief them on planned reforms in the power sector. The delegation, led by former caretaker minister Gohar Ejaz, will also talk about the country’s exports and other economic challenges. The meeting is scheduled for 2:00 PM at the Prime Minister’s Secretariat. The International Monetary Fund (IMF) has already permitted the government to reduce electricity tariffs by Rs1 per kilowatt-hour for all consumers. This price cut will be funded through a levy on captive power plants using natural gas, as stated by the IMF. Following this, Finance Minister Muhammad Aurangzeb confirmed that the government is working on reducing electricity prices. Last month, in an interview with a foreign media outlet, he mentioned that PM Shehbaz is leading these efforts and that an official announcement will be made soon. Aurangzeb also highlighted that the upcoming budget aims to expand the tax base by including sectors such as real estate, retail, and agriculture.