- Prime Minister addresses the Independence Day function in Islamabad.
- He says the industry cannot prosper without lower bills.
- “If not everything is well in the country, not everything is bad either,” says the Prime Minister.
Prime Minister Shehbaz Sharif announced on Wednesday that he will soon share “good news” with the nation about a reduction in electricity prices and also outline a new economic plan.
Pakistanis have been receiving inflated bills for months as the government keeps raising prices to reduce energy debt and implement International Monetary Fund (IMF) conditions.
“There is inflation today. People are worried about electricity bills and other problems. However, while all is not well in the country, all is not bad either,” the prime minister said during an event in Islamabad to mark the 77th Independence Day.
The prime minister said Pakistan's industry cannot prosper and exports cannot increase without a reduction in electricity bills, adding that he would address the nation in a few days and present a five-year economic plan.
A day earlier, Prime Minister Shehbaz said the government was focused on providing low-cost electricity as it was “inevitable” to pull the country out of the current crisis.
“Our only aim is to reduce energy prices to provide relief to domestic consumers, agriculture, industry, exports and commercial sectors. This is inevitable to divert the economy from the current problems. Export competitiveness is linked to cheap electricity,” he said.
Besides, The news He had reported that the government was making plans to rationalize power tariffs through different proposals, including cutting development budget allocation at the federal and provincial levels.
It has been revealed that the government is also working on closing down domestic independent power producers (IPPs) belonging to the government and the private sector. However, the IMF is yet to give its approval to the energy rationalisation plan, according to sources.
Prime Minister Shehbaz also said that low-cost electricity and an efficient power transmission system are the main factors for a stable economy.
The federal government had also reached an agreement with Jamaat-e-Islami last week, in which it agreed to form a working group aimed at addressing issues related to IPPs, reduction of electricity bills and reduction of taxes on salaried class.
