According to official sources, the government has approved a relief package to cut electricity tariffs in both industry and agriculture.
The sources predict that the cost of electricity will probably fall by more than Rs. 10 per unit under the plan – which will give three year discounts on extra power use to encourage higher load factors and greater production efficiency.
The new rates will come into force from November 1 and last until October 31, 2028. Prime Minister Shehbaz Sharif will make a formal announcement from his office on Thursday, sources said.
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What the government wants to do is reduce the cost of production for enterprises and increase exports by dispensing with the burden of energy. For officials, lowering electricity charges is an important factor in accelerating economic activity, they say, and it which makes industry more competitive.
The relief package, according to sources, is expected to enhance the competitiveness of Pakistan’s industrial sector and support sustained economic growth.
